Bailout

Customer-gouging datapoint of the day, Bank of America edition

By Felix Salmon

From WaPo:

Bank of America this year raised the maximum number of times customers can get hit with overdraft fees from five a day to 10.

This seems incredibly short-sighted to me: BofA here is just asking to get slapped down — hard — by Elizabeth Warren when she takes over the new Consumer Financial Protection Agency. And with behavior like this, it will have precisely no one defending it.

Full post as published by Macroprudential on June 29, 2009 (boomark / email).