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	<title>Shatuga &#187; america</title>
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		<title>Bank of Not My America</title>
		<link>http://www.shatuga.com/2009/12/03/bank-of-not-my-america/</link>
		<comments>http://www.shatuga.com/2009/12/03/bank-of-not-my-america/#comments</comments>
		<pubDate>Thu, 03 Dec 2009 14:10:02 +0000</pubDate>
		<dc:creator>shatuga</dc:creator>
				<category><![CDATA[Living]]></category>
		<category><![CDATA[america]]></category>
		<category><![CDATA[business]]></category>

		<guid isPermaLink="false">http://www.shatuga.com/?p=91</guid>
		<description><![CDATA[I read a recent news article in the New York Times about Bank of America&#8217;s repayment of federal TARP funds paid during the financial crisis at the end of the George F. Bush administration.  I&#8217;m glad to see the megabank repaying its bailout dept.  But I cannot forgive them for their profiteering business practices&#8230;

Including:

 Allegedly [...]]]></description>
			<content:encoded><![CDATA[<p>I read a recent news article in the <a title="NY Times Article - Opens In New Window" href="http://www.nytimes.com/2009/12/03/business/03bank.html?_r=1&amp;partner=MYWAY&amp;ei=5065" target="_blank">New York Times about Bank of America&#8217;s repayment of federal TARP funds</a> paid during the financial crisis at the end of the George F. Bush administration.  I&#8217;m glad to see the megabank repaying its bailout dept.  But I cannot forgive them for their profiteering business practices&#8230;</p>
<p><span id="more-91"></span></p>
<p>Including:</p>
<ul>
<li> Allegedly predatory banking fee business practices in administration of overdraft fees (failing to deny debit card transactions when an account is overdrawn, arranging daily withdrawals to maximize the number of overdrawn transactions)</li>
<li>Failing to find a way to block Merrill Lynch&#8217;s bonuses of more than 5 billion in cash  to 100-odd executives</li>
<li>Hiring Merrill Lynch executives who were allegedly responsible for cooking up some of the aggregated investments used to hide bad mortgages in the first place &#8211; I want to see these people go to jail.</li>
</ul>
<p>I will never do business with Bank of America.  They are up there with Verizon in my list of companies that do what&#8217;s necessary to placate their customers while also seeming to do whatever they can to squeeze as much money from them as they can.  That might be The American Way, but not the America that I want to live in.</p>
<p style="text-align: center;"><em>Step Off &#8211; Bank of America!</em></p>
<p>I&#8217;d recommend finding a small local bank to work with.  One that has good overdraft policies.  One that doesn&#8217;t sell you on banking tools that might cause you problems if you get into trouble.  Think about the bad scenarios.  Don&#8217;t ever think they won&#8217;t happen to you &#8211; and find a bank that, when something bad does happen, will be on your side.</p>
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