Bank Of America, N.A. bofa.com Overdraft Harrassment Internet

But I look at it this way. Ron Paul is an elected Congressman. And he ran for President. He is the lowest user of PAC and lobbyist funds. Yet he raised more funds in the 4th quarter of 2007 then any other Republican. So it can happen. The only ones sweeping him under the rug at this point, is the American Voters, sad but true. Karl..we do this ourselves. There is no doomsday "machine", we are on a suicide mission. Death by ignorance.

When will AMERICA wake up?

so what Ron Paul said will be pushed under the rug by the ones who are really in control of this country, in my opinion.

I took the bait. But please don't leave my name on the title of your posts. Just a request.

That aside..here is a quote from the person I campaigned for last election..Ron Paul regarding corporate welfare..

"It is not only bad economics to force working Americans, small business, and entrepreneurs to subsidize the export of the large corporations: it is also immoral. In fact, this redistribution from the poor and middle class to the wealthy is the most indefensible aspect of the welfare state, yet it is the most accepted form of welfare. Mr. Speaker, it never ceases to amaze me how members who criticize welfare for the poor on moral and constitutional grounds see no problem with the even more objectionable programs that provide welfare for the rich."

there have been people who wanted control over the masses. They believe that they are superior to others.

I think this warrants clarification.

I was not saying there is no racism in the world, and I am not saying if this bank is racist or not...

What I was implying is in the case of this banks overdraft fee policies, it is an equal opportunity rip off.

Granted it is statistically proven that ethnic minorities are lower income, and it is statistically proven that overdraft fee scam victims are disproportionately lower income, but people of all races and ages have been victim and trapped into the "direct deposit, auto undisclosed debit card OD protection enrollment, statement manipulating, transaction time altering and re-sequencing" tactics.

This has happened to me several times.  Bank of America is an unethical institution and the overfraft charges they hit customers with is unbelievably wrong and illegal.

Benjamin Disraeli's quote about race? If not, here it is-

They are equal opportunity rip off artists, and ALL of their customers were subjected to the same tactics..black, white, rich, poor, handicapped, war veteran, young, old etc. The banks are being charged with non disclosure, among several other criminal charges..

Hence, this bank is one of the prime defendants in a current class action lawsuit you may be interested in...

MIAMI--(EON: Enhanced Online News)--Marking a substantial step forward in litigation over the banking industrys abusive and excessive overdraft fee policies and practices, plaintiffs' counsel announced that bank customers have filed a series of nationwide class action lawsuits against Bank of America, Wachovia, U.S. Bank, JPMorgan Chase, Citibank and others. The complaints were filed in the United States District Court for the Southern District of Florida in Miami, where all federal lawsuits brought against the banking industry for abusive overdraft fees have been coordinated before the Honorable James Lawrence King.

"The collection of excessive overdraft fees, usually around $35 per transaction, impacts millions of Americans each year and has become a multibillion-dollar profit center for the banks," explained lead plaintiffs counsel Bruce S. Rogow. "In many instances, these overdraft fees cost customers hundreds of dollars in a matter of days, or even hours, when they may be overdrawn by only a few dollars. Charging a $35 overdraft fee when a college student uses her debit card to buy a cup of coffee is unconscionable."

How Bank "Overdraft Protection" Works and Why the Abusive Collection of Overdraft Fees is a National Concern

Today, when customers open checking accounts, banks provide debit cards for the withdrawal of cash from ATM machines and the purchase of goods and services. Many bank customers are not aware that as part of the process of obtaining the debit card, banks automatically enroll their customers in "overdraft protection." The overdraft protection kicks in if the customer spends more than he or she has in the account to cover the purchase, up to a limit of a few hundred dollars.

Banks could simply decline to honor customer ATM or point-of-sale transactions if the account lacks sufficient funds, or could warn customers that if they go through with the transaction an overdraft fee will be assessed. In fact, until a few years ago, most banks simply declined debit transactions that would overdraw an account.

"Banks do not record charges and purchases on ATM or debit cards in the order they actually occur,"

stated plaintiffs counsel Michael W. Sobol of Lieff Cabraser Heimann & Bernstein, LLP. "Instead, banks reorder the charges and purchases so that the largest charge or purchase is the first one paid by the bank. This manipulative practice is intentionally designed, the complaints allege, to maximize overdraft fee revenue."

"If you buy your kids a $15 meal at McDonalds on your debit card and your account was overdrawn, that lunch actually cost you $50," added Mr. Sobol. "The bank wont decline the debit transaction, nor will the bank tell you that you have overdrawn your account and is about to turn your $15 lunch into a $50 expense."

In 2007, banks collected more than $17 billion in overdraft fees. That number nearly doubled in 2008, as more and more consumers struggled to maintain positive checking account balances. In 2009, banks are expected to bring in up to $40 billion in overdraft charges from nearly 50 million customers.

"While all bank customers could have been affected, these overdraft fee policies disproportionately affect young people, the elderly and the poor, who are most likely to maintain low account balances," noted Mr. Rogow. "Moreover, these fees have the tendency to create a domino effect, resulting in even more fees."

Further Information for Bank Customers

Bank customers assessed overdraft fees who wish to learn more about this litigation should visit [www.bank-overdraft.com] where they can submit their complaint to plaintiffs counsel.
Contacts

Lieff Cabraser Heimann & Bernstein, LLP
Michael W. Sobol, [415-956-1000]
or
Bruce S. Rogow, [954-767-8909]