Bank of America fined $150 million for consumer abuses including fake accounts, bogus fees

https://www.cnbc.com/2023/07/11/bank-of-america-fined-fake-accounts-bogus-fees.html

74 points · 9 comments · view on lemmy.world

9 Comments

andrewta@lemmy.world · 13 pts · 3y (2 replies)

Nope they never learn

Odusei@lemmy.world · 15 pts · 3y (1 reply)

When the fines are less than the profits, what’s there to learn? Just the cost of doing business.

andrewta@lemmy.world · 5 pts · 3y

Exactly

bleppy@lemmy.ca · 5 pts · 3y

Cost of doing business.

SaltyEggs@lemmy.world · 4 pts · 3y (3 replies)

I'm glad I bank with Wells Fargo

CatZoomies@lemmy.world · 7 pts · 3y
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TheGoldenGod@lemmy.world · 7 pts · 3y

Excuse me, but you dropped this, /s

manicvelocity@lemmy.world · 1 pts · 3y
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some_guy@lemmy.sdf.org · 3 pts · 3y

When I was in my early twenties, I decided to open my first savings account (already had a checking account) at BofA. The agent at the branch didn't tell me there was a minimum balance of $50 and let me open it with $20. Immediate penalty. I was too young and naive to know how to stand up for myself. I'd get that shit reversed today on grounds that she failed to properly inform me. At ~22, I just took the hit.

I'm sure she got commission on that shit, else why would she let that happen? The banking industry is fraudulent from top to bottom.

Jaysyn@kbin.social · 2 pts · 3y (1 reply)

It sure is weird how if I committed millions of dollars in fraud, I'd go to prison for 10-20 years.

Odusei@lemmy.world · 4 pts · 3y

Are you sure? Have you tried it?