|All your money are belong to us.|
Bank of America's new debit card fee is dead. The $5 monthly fee for utilizing your BoA debit card raised the ire of consumers, who signed petitions, cut up cards, and generally
Embarrassed officials shut the book on this humiliating chapter on Tuesday.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” stated David Darnell, co-chief operating officer (whatever the fuck that is) at Bank of America. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”
Now, the bad news.
The desperate maneuver may not be enough to quell consumer anger. After all, BoA hasn't finished fucking with your money yet!
You see, the bank has moved $75 trillion dollars in toxic assets to an FDIC insured account. What does that mean, you wonder?
According to Noel Brinkerhoff of AllGov.com: "By doing so, BofA has positioned the FDIC to be the fall guy if the derivatives shift causes the subsidiary to fail, which would then require the federal agency to step in and save the day. The situation is disturbingly similar to that the one that led to the financial crisis just three years ago."