NEWSTALK 860 » bank of america

Bank of America Will Not Charge Monthly Fee for Debit Card Usage

Shauna Wright — Tue, 01 Nov 2011 19:05:34 +0000

In September, Bank of America announced it would soon begin charging customers a $5 monthly fee for using their debit cards, saying it was recouping losses from new laws that limited how much it could charge merchants when debit cards were swiped during transactions.

But after a firestorm of negative publicity, BofA waved the white flag of surrender and scrapped the controversial plan.

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Bank of America to Begin Charging $5 Monthly Fee for Debit Card Usage

Shauna Wright — Fri, 30 Sep 2011 16:57:22 +0000

In light of new regulations limiting what financial institutions can charge merchants when buyers swipe their debit cards, Bank of America — the nation’s largest bank — will soon impose a $5 monthly fee on customers who use their debit cards to pay for such transactions.

Anne Pace, a Bank of America spokeswoman, said the fee will only be charged when customers use their cards during merchant transactions, not when they’re used at ATMs to withdraw cash.

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Bank of America to Cut 30,000 Jobs As Part of $5 Billion Reductions

Shauna Wright — Mon, 12 Sep 2011 16:44:31 +0000

On Monday, Bank of America announced that part of its plan to cut $5 billion in spending by 2014 includes the elimination of 30,000 jobs.

CEO Brian Moynihan made no mention of layoffs during an investor conference, and the bank says it expects the job losses to occur naturally through attrition and not rehiring when people vacate their positions.

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Update: Bank of America to Cut 40,000 Jobs and Close Branches Nationwide

Jim Bell — Sat, 10 Sep 2011 16:48:47 +0000

Meeting at its corporate HQ in North Carolina, Bank of America's Board of Directors and top executives have decided to eliminate at least 40,000 jobs, mostly in California, and close a number of branches all over the country.

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Bank of America May Cut 40,000 Jobs

Jim Bell — Fri, 09 Sep 2011 14:49:15 +0000

Top executives at Bank of America are meeting today to talk about eliminating roughly 40,000 jobs during the first wave of a restructuring that aims to reduce the bank's workforce of 280,000 over a period of years.

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Did You Hear the One About the Homeowner Who Foreclosed on the Bank?

Jim Bell — Mon, 06 Jun 2011 15:06:08 +0000

In a classic reversal of an all-too-familiar story, a Florida homeowner got the ultimate revenge on Bank of America for ignoring his efforts to get the bank to correct a serious mistake. He foreclosed on the bank.

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