Last week, we sent a letter to the Obama pay czar, signed by over 11,000 taxpayers. We told him to stop payment on Ken Lewis' $53.3 million bailout. But it's not just Ken Lewis getting rich with our money.
The papers are all leading today with headlines about America's banks on track to earn record profits and pay out record amounts of bonuses to their top brass. America is still reeling from the financial crisis, but it's business as usual on Wall Street.Next weekend, thousands of taxpayers are going to confront big banks and hold them accountable to us - will you demand they meet with us? http://action.seiu.org/abachicago
The arrogance of these banks is unbelievable. They took trillions of our hard-earned tax dollars through bailouts. And now they're playing with it like it's Monopoly money; paying out huge bonuses and lobbying against financial reform.
Since the beginning of 2009, JPMorgan Chase has already paid out $21.8 billion in bonuses. That's a new record. Bank of America's compensation payouts are expected to hit $30 billion - up 64% from last year.
We're going to Chicago to confront the bankers at their annual conference on October 25-27th and we need every taxpayer supporting us. Click here to demand a meeting with the big banks: http://action.seiu.org/abachicago
There's no disputing it: these CEOs didn't learn their lesson from the financial crisis they caused. I guess we're going to have to teach it to them. Click here to stand with taxpayers and against big bank greed: http://action.seiu.org/abachicago
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I have been a BofA customer for 9 years. I have my mortgage with you as well as 2 checking accounts. I have had many issues over the years but this one has taken the cake. I have had to find another bank so that I can feed my kids after a week on the brink of starvation. I have learned to take screen shots of my account transactions and available history daily for back up. To the layman looking at my accounts it appears that I have carelessly spent what I don't have. That is not the case! I have now been charged $455 in NSF fees from what could/should have been a -$5 overdraft.
The dates are changed and debits are held back in order to create this chaos, BofA must have a trigger when an account gets to a low balance that it manipulates debits in order to rape it's hard working customers. I would cry but at this point it is more ammunition for the fire! This started on 10/5/09 when I noticed a $35NSF fee was deducted from my account that had never been negative, so I questioned that charge before I deposited any more money. In the mean time charges I had made over 6 days prior were then rearranged and a charge that was made on 10/6 $375 was posted (first I might add)-this is the charge that would of brought me to a -$7.77 (which I planned to cover in means of a cash deposit). Please remember that there was already a bogus $35 charge taken out hence the -$42.77 not -$7.77 Because of this it shows now that the $375 cleared making the smaller charges (first one $50) post to a +$42.77 account bringing with them 6x$35 =$175NSF
Now we are on 10/7/09 to make matters worse BofA posted all of the NSF $35 items first which made the $375 charge -$132.56.Remember this is the same transaction that caused all the others to bounce-it had cleared on 10/6/09! In the mean time one of the original transactions for $1. Dropped off so they would lose $35, they rearranged everything to appear that the $375 wouldn’t clear.
It gets better, Now we are on 10/8/09 and I have accumulated a total of 10 NSF x $35=$350 fees bringing my balance now down to -$476.86!! Again these are for the same items that caused the NSF. There hasn’t been anything but the 6 they arranged earlier, even if they were real charges it still wouldn’t explain 4 extra charges $140.
I honestly couldn’t make myself log on and look at the account for a few days because it is quite depressing to see everything you work for slipping away. I work hard and all of my money goes to that account in form of direct deposit. My corporate office is in CA and I can’t get my check on time and I can’t cash an out of state check in fear that BofA would eat it with these charges. So my children have been close to skipping a meal or having to go to a friend’s house for dinner. It is like having your best friend steel from you. I trusted you with my family’s security and well being. Just the thought that persons with this much power would do this to real people is the most earth shattering thought and a perfect example of deep seeded Greed..
This is where it gets even better. 10/14/09
I received 2 BofA postcards on 10/13/09 informing me that I had 5 days to pay the overdrawn balance on my account or I would get another NSF charge, but I received them 7 and 8 days later so there would be a $35 charge for each postcard. Now here is another $70 because they separated those charges that were earlier all on one day now have 3 post cards in total bringing $105NSF!
My account balance today is -$511.84. As I said before I have screen shots of the account as seen on these days along with the account available history!
I am not going to stay with Bank of America but this should not stay on my record as this is not my doing. I agree I owe the $7.77 + $35NSF=$42.77, but the remaining balance needs to go away and close my account even. If Bank of America does not do the right thing I guess I will be plagued with what ever the powers at be decide to do, but there is no way I will ever pay this money. I can’t afford an attorney but BofA may chose to take me to court and I will have to miss work, and still run the possibility of losing more of what I don’t have but I teach my children to stand up for what is right and to fight for those that can’t fight for themselves! So how can I roll over now. It is down to the survival of my family and it is just plain wrong.
I just want to sleep without this shadow looming over my house! Please give us that and you will not have to deal with me again!
Thank you for taking the time to read this long email. I can send the attachments if requested but I know sometimes they get caught in spam filters,but I will be more than happy to fed Ex them all.
Best Regards,
Susan Johnson
Raleigh,NC 27616
Citizens can gain control of their money by forming our own bank, like a credit union but on a national level, and transfer all of our money from Chase, BOAmerica, WFargo, etc. and deposit it into the new bank. Since the people will manage and run it, we will have the power.
This bank will offer mortgages so we can refinance our mortgages based on the current value of our homes - not at the amount the predator lenders offered. This would reduce or possibly prevent foreclosures.
Just a thought.............