Like most of you, we’ve never seen — nor have any intention of ever seeing — this Innocence of Muslims movie. (Gawker claims to have the full-length script, if you’re more interested than we are.) Regardless, the short film that apparently mocks Islam is upsetting people around the world, some of whom claim to have launched denial of service attacks against Bank of America and the New York Stock Exchange.
If big banks weren’t at the root of so many problems, maybe we’d be starting to feel the tiniest bit bad for all the trouble they’ve been getting into lately with authorities. But yeah, we don’t feel the slightest twinge of sympathy that regulators are reportedly about to start cracking down on a few big banks for money-laundering.
Before snapping photos of her money order with Bank of America’s mobile deposit app, April took the time to make sure that money orders were permitted. She lives 200 miles away from the nearest Bank of America (yes, there is such a place in this country) and can’t go to a branch or ATM to deposit it. The app’s “help” section said that money orders are totally allowed, so she went ahead with the deposit. They rejected it, and customer service told her that money orders can’t be deposited with the mobile app. Well, fine. Maybe she’ll just go ahead and deposit that money order at a bank that’s local to her.
What’s a bunch of suspected bank robbers to do when the cops are closing in during a high-speed chase in South Los Angeles? Apparently that is the perfect time to hurl your ill-gotten gains out of the window and make it rain cash. The up side for passersby — free cash! And if the ensuing melee gets in the way of the cops closing in, perhaps that makes for a good getaway tactic. But also, really dangerous to have people diving for free money in the streets.
The way younger generations are glued to their smartphones, there’s almost nothing they can’t do with the swipe of a touch screen. Old-fashioned things like writing checks or even paying a roommate with cash is such a bother to some, but yet transferring money to other people with apps hasn’t really caught on like the banking industry figured it would. That’s why the nation’s big four are discussing how they can link up their payment systems to make it easier for consumers to send money via mobile devices or even emails.
Getting a mortgage modification has been hard enough for homeowners, what with disorganized big banks not having enough well-trained people on staff to deal with the necessary ins and outs of the process. But a new study says that things should’ve been easier under the Home Affordable Modification Program and resulted in 800,000 fewer foreclosures than we ended up with.
Sometimes, our mailbag reads like some kind of reality-based personal finance version of the Penthouse Forum. “I never understood why people are so angry with big banks,” our readers type, “until one of those horror stories happen to me.” That’s sort of what happened to Kestris. She and her husband are longtime Bank of America customers who never really had any problems with the bank. Until they did. It was a big one: when they withdrew their rent from an ATM, the machine made bill-counting whirring noises, but dispensed no cash.
Just because all of its banking friends were doing it didn’t necessarily mean Bank of America was going to start using a simple form to disclose checking fees, but fortunately for its customers, it has. Citibank and Chase both switched already to the one-page form that sets out basic fees for ATMs, overdraft charges and account closings, and now BofA is onboard as well. Finally.
For years, we’ve been telling tales of terror abut bank customers whose supposedly dead bank accounts suddenly sprang back to life after some unwitting third party attempted to make a direct deposit or debit on the account. But realizing that this whole zombie thing is so overdone these days, Bank of America says it has put an end to the practice.
Fifteen separate lawsuits recently filed in U.S. District Court accuse Bank of America of defrauding homebuyers by allowing an insolvent developer to take their money for properties in a subdivision that were not only never built, but also had no roads, sewers, or other utilities.
Remember Aaron and his missing purple muscle car that disappeared after Bank of America sent in a winterizing crew? He’d been storing the car in his late mother’s garage when the crew contracted by BofA showed up to secure the foreclosed house against the elements, and poof — his car was gone. It’s been returned to him now due to the hard work of investigators, and two men have been arrested, but he says Bank of America still isn’t being very helpful.
If you’re a Bank of America customer and you sensed that the number of BofA ATMs out there had shrunk in recent months, you were not hallucinating. The company says it decided to pull 1,536 — nearly 1-in-10 — of its ATMs out of use in an effort to cut costs.
Not being able to tell your family why you were out of work and broke for three years would be something most of us couldn’t even imagine. One of the whistleblowers involved in the investigation that led to this year’s $25 billion mortgage settlement with some of the nation’s biggest banks says he had a pretty rough time waiting things out, while not being able to utter a word to his loved ones.
A Texas woman’s “nightmare” of three court cases in six years is finally over, after a judge ordered Bank of America to pay her the $300,000 it’s owed her since 2008. Trudie’s troubles all started after a hurricane damaged her home in 2006, and her then-mortgage company told her not to worry about paying her loan for three months so she could get back on her feet.