You Wouldn't Believe Bank of America's Latest Scam

[xchrom]

http://www.alternet.org/bank-america



***SNIP

So, now that the big banks have fully recovered from the financial crisis that they themselves caused, and are raking in massive profits yet again, you would think that they’d be extra careful not to cause another financial meltdown, right?

Wrong.

It’s appears that big bank Bank of America is up to the same old dirty tricks that helped contribute to America’s financial meltdown in the first place.

According to the American Banker magazine, Bank of America is using a misleading sales pitch and a flood of fine print to sell you and me on mortgage refinancing plans.

The American Banker reported Monday that a mailer in New Jersey from Bank of America, “sounds eerily like a sales pitch from the bubble days of 2005.”

[hobbit709]

1. You couldn't pay me to do business with BoA.

I wouldn't go into one to break a large bill.

[snappyturtle]

5. I had a very bad experience with BOA....what pigs. I want to

spit out my car window when I drive by the temple built for it.

[ejpoeta]

2. why shouldn't they. they didn't suffer any for their misdeeds and no one went to jail.

Of course they are going to do it again.

[Catherina]

6. +1000000 as disgusting as that is n/t

[geckosfeet]

3. Anyone with a lick of sense won't do business with these shysters.

The only way that they can rope in clients is through the age old fine print scam. Lax regulation encourages this "non-disclosure" type of disclosure. Thanks to the useless SEC. SEC - you are less than useless - really. You suck ass.

[xchrom]

4. +1

[Catherina]

8. Dear SEC, my thanks too n/t

[dixiegrrrrl]

7. Guess what? the servicer they sold the mortgages to is doing sub prime loans.

BOA did the servicing for Countrywide orginated loans, right?
This spring BOA sold those serviing rights to an outfit called Green Tree Servicing.
My mortgage is one of the ones sold.
2 months with Green Tree and I get a mailer from them, offering me a re-fi, no credit, no job? no problem.

Riiiight...........

[Recursion]

9. Recently a client paid me with a Bank of America check

It was a small programming job for $50 and my credit union was across town so I went into B of A to cash it. They wanted to charge me five bucks for that. I ranted for a while and ended up going to the liquor store down the street which only charged $2.50 (still cheaper than metro fare to my bank and back).

%$#&ing parasites.