Tuesday, June 30, 2009
BofA allegedly overcharged Latino customers
Posted by Alexzenia Davis on Tue, Jun 30, 2009 at 5:18 PM
No comprendo ingles... and that works for Bank of America. Poor BofA, they just can't get anything right anymore.
The former workers said they were going public to lay out what they saw as a little-known side of BofA's business model: encouraging working-class customers to sign up for high-interest-rate credit and cash advance services and structuring an array of check and debit card services to maximize overdraft fees and other charges.The campaign will be launched publicly this week, with workers scheduled to tell their stories in news conference calls and meetings with members of Congress. The union is seeking to pressure the bank and to build support for legislation now stalled in the Senate that would make it easier for union members to organize.
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Bofa is looking for profits to please their shareholders. They aren't all that choosey about who they target Spanish or whoever, to increase profits (unless there's even more profit in such targeting). Maybe if our taxes weren't so high, we could take home more of our own money, the government would simply let the banks fail (instead of bailing them out with our money), and we could put some money into our own accounts and avoid some of the extortion type fees that they casually inflict on us. Just thinking out loud.
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