Report: #157083

Complaint Review: Bank Of America

  • Submitted: Wed, September 14, 2005
  • Updated: Wed, September 14, 2005
  • Reported By: Galt California
  • Bank Of America
    www.bankofamerica.com
    Nationwide
    U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Bank Of America Run by Criminals ripoff Nationwide

Show customers why they should trust your business over your competitors...

Bank of America gets rich off the backs of poor Americans:

The revenue increase was primarily due to strong noninterest income growth, led by the growth in card income and service charges.

Since buying credit card giant MBNA in June 2005, Charlotte, NC-based financial titan Bank of America has adopted some of its former prey's most prized tactics -- spiking interest rates, charging late fees even when your balance is paid, and customer "service" that leaves cardholders feeling worse than when they called. http://www.consumeraffairs.com/news04/2005/mbnbofa.html

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Bank of America steals from mutual fund holders:

Bank of America has agreed to pay a total of $375 million, consisting of $250 million in disgorgement and $125 million in penalties. The money will be distributed to the mutual funds and their shareholders that were harmed as a result of market timing in Nations Funds and other mutual funds through Bank of America. Stephen M. Cutler, Director of the SEC Division of Enforcement, said: "The $375 million that Bank of America has agreed to pay and the significant reforms that it has agreed to implement reflect the seriousness of the misconduct in this matter. We will continue to investigate that misconduct in an effort to hold all responsible parties accountable." http://www.sec.gov/news/press/2004-33.htm

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Bank of America steals from ATM customers:

Several top U.S. banks and ATM operators face a class-action lawsuit claiming they collaborated to charge customers inflated ATM fees, according to court documents. http://money.cnn.com/2004/08/19/pf/atm_fees/

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Bank of America steals senior citizen's social security checks:

Several banks, including Bank of America, are seizing Social Security checks and taking the money if those people have some kind of debt or dispute with the bank. http://www.palmbeachpost.com/money/content/shared/money/stories/clark/0405/041018bankfees.html

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Bank of America steals from their own employees:

The suits seek injunctions to stop the banks from charging a $5 per paycheck cashing fee to employees of business payroll account holders as well as a refund of all such fees already paid by thousands of employees in Californiamostly lower-paid workers who don't hold personal checking accounts and rely on their employers' banks to cash their checks. http://rpnlaw.com/pressrelease010505.htm

A $4.1 million dollar settlement has been approved in the class action lawsuit filed against the Bank of America on behalf of approximately 280 Washington state employees. The employees alleged that they qualified for overtime pay that they were not receiving. http://www.power-of-attorneys.com/PPF/page_ID/197/class_action_detail.asp

Bank of America Corp. employees are suing the company for allegedly using part of their pension accounts as an "arbitrage scheme" to enrich itself at their expense, according to The Wall Street Journal. The lawsuit, Pothier v. Bank of America Corp., was filed in federal court in the Southern District of Illinois. http://www.cfo.com/article.cfm/3370222/c_3370233?f=TodayInFinance_Inside

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Bank of America steals from stockholders of Enron:

Bank of America yesterday became the first bank to agree to a settlement in a class action lawsuit brought by Enron investors who are claiming $25bn (13.6bn) from firms and individuals allegedly linked to fraudulent activities at the energy firm before it collapsed in 2001. http://www.guardian.co.uk/enron/story/0,11337,1253220,00.html

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Bank of America steals from small business owners:

A Miami businessman is suing Bank of America to recover $90,000 that he claims was stolen and diverted to a bank in Latvia after his computer was infected by a "Trojan horse" computer virus. http://informationweek.com/story/showArticle.jhtml?articleID=60300288

L.L.P. has filed an antitrust class action lawsuit in the U.S. District Court for the District of Connecticut against Visa, MasterCard, Bank of America, Citibank, Bank One, Chase Manhattan Bank, JPMorgan Chase, Fleet Bank, Capital One and other major banks on behalf of merchants alleging collusive practices of their setting, by horizontal agreement, credit card interchange fees at supra-competitive levels. The Complaint seeks injunctive relief to stop the alleged anticompetitive practices plus damages. http://www.legalnewswatch.com/news_593.html

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Bank of America lies it's way to the top:

Bank of America Corp., with more than 140,000 employees, had $637 billion in assets at the end of the first quarter of this year. After the merger was completed, NationsBank shareholders claimed that BankAmerica had won their approval of the deal by hiding financial problems at BankAmerica. http://securities.stanford.edu/news-archive/2002/20021002_Settlement02_Shinkle.htm

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Bank of America involved in racketeering?

According to a racketeering lawsuit the Italian overseer recently filed in North Carolina, for example, Bank of America began engaging in a series of systematic, interrelated transactions whose only economic purpose was to enrich Bank of America at the ultimate expense of Parmalat, by making it appear that Parmalat was a thriving, profitable company with a good credit rating and the ability to grow and obtain additional financing.'" http://www.sfweekly.com/issues/2005-01-12/news/smith.html

Vigilante
Galt, California
U.S.A.

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This report was posted on Ripoff Report on 09/14/2005 01:34 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bank-of-america/nationwide/bank-of-america-run-by-criminals-ripoff-nationwide-157083. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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