“Nothing is making BoA or any bank do this but greed.”
You mean they weren’t greedy before? The way the free market works, competition puts a check on greed. The reason that’s not working now is because of regulation. Regulation is the thing that says you’ve got to do X, and so does your competition. BOA could not get away with this if Congress had not changed the rules for both BOA and the competition.
We bailed the big banks out and they continually screw us. BoA should be broken up like the old telephone service so we never again have a bank “too big to fail”.
I no longer deal with BoA, but all the banks are going to add this fee now. Blaming Congress for the stupidity of banks is like blaming rape victims for what they are wearing. Sure it MIGHT have made them more noticed, but no one made them do it.
My bank is a credit union now. Every time I tried to switch banks in the past, it would get bought out by a big bank and turn to $hit.