Following yesterday's news that Bank of America is testing new checking account fees in Massachusetts, that state's Secretary of State has said it may be time to pull out the millions of government money currently stashed in the BofA coffers. "They are penalizing people for putting money in their bank which they can then utilize to invest in anyway they want," says Secretary of State William F.
The days of free checking accounts are numbered for many bank customers around the country, reports the Los Angeles Times. New rules that make it harder for banks to impose various fees mean they need to pull in money from elsewhere... Read Post
Following in Bank of America's footsteps, Citi will unleash a new wave of checking fees in December, reports CNN Money. Mid-tier Citibank account holders will now be hit with a $20 fee for failing to maintain a minimum $15,000 balan... Read Post
Massachusetts Secretary of the Commenwealth William Galvin has put out a statement slamming Bank of America's new checking fee plan and proposed a law that will bar the the state from putting money in banks that put in place fees th... Read Post