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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMonth After Getting $3.5 Billion Tax Break From Trump, Bank of America Hikes Fees on Poorest Custome
Month After Getting $3.5 Billion Tax Break From Trump, Bank of America Hikes Fees on Poorest CustomersOnline checking accounts, popular with low-income customers, may now be off-limits to many who can't afford new fees
by Julia Conley, staff writer Published on Tuesday, January 23, 2018 by Common Dreams
Consumer advocates and banking customers are expressing outrage after an announcement by the Bank of America that it would begin charging fees to account-holders who maintain low balances.
The decision, announced Monday, comes a month after the Republican tax law gave the bank an expected $3.5 billion tax break, and less than a week after it posted $2.4 billion profits in the last quarter of 2017.
Critics argued that such news should garner at least as much attention as the bank's announcement last month that it would use some of the financial windfall to give its 145,000 employees a one-time bonus of $1,000 eacha relatively small portion of its tax savings.
https://www.commondreams.org/news/2018/01/23/month-after-getting-35-billion-tax-break-trump-bank-america-hikes-fees-poorest
muntrv
(14,505 posts)workinclasszero
(28,270 posts)ProfessorGAC
(65,076 posts)Sizable CU with a community charter. Not one of the giants like United Airlines, but when i left the board, assets were about a quarter billion. I was on the board from the early 90's until around 2010.
It's still our PFI (primary financial institution).
dalton99a
(81,516 posts)smirkymonkey
(63,221 posts)The 1% in this country aren't even trying to hide the fact anymore that they are trying to crush the rest of us. Their contempt for the average working person is so blatant. Time to bring back the guillotine!
workinclasszero
(28,270 posts)It's all out war on the working poor. Trump is their damned champion.
beachbum bob
(10,437 posts)fuck BOA, fuck wells fargo
Firestorm49
(4,035 posts)Trickle Down Economics, yeah, right.
Ive seen three different articles just this morning, Bank of America being one, about the new tax bill and how the money is racing to the top 1%. But, its done and the 1% is no doubt, thrilled. The breadcrumbs thrown to the rest of us are nothing more than a transparent smokescreen meant to give the illusion that we, the regular Joe and Joan will be better off. With all due respect, bullshit.
We are defenseless against our own government, the very people whom we elect and trust to pass laws for the betterment and common good of the people- all of the people. This is true with both parties, as once we have closed government, we have no government. We are not represented by elected officials who claim to be standing up for the electorate in their respective states, but are beholden to special interest groups with nothing more than money and power on their minds.
Yet what can we do? The options grow fewer and fewer by the day. If and when the time comes for peaceful revolt it will have been too late. The problems we are experiencing are greater than the solutions that we, the regular working people who made this country great, can muster. To make America great again will necessitate deep pain and sorrow, and will ultimately fail, as money and power does not yield its muscle.
So, Im going to get in my car which is not state owned, buy a gallon or two of gas before it hits $20 a gallon, drive down the street without my papers while its still in reasonably good condition, and buy a cheeseburger while they are still available, and pretend while I still can,that my vote really matters.
beachbum bob
(10,437 posts)several campaigns over the years and contribute money to others. Sitting back and waiting for something to change while actually not doing anything except sitting back pretty much guarantees nothing changes or it gets worse. Not all politicians are bad and the system is not entirely corrupt but doing nothing will change nothing
appalachiablue
(41,146 posts)bluecollar2
(3,622 posts)Been with the same Credit Union ever since.