Go withdraw all your money and business from the following institutions:
Bank of America
Place your business with a local community bank or credit union in their place, and tell the above four institutions to "piss off."
I've resisted doing this, but the idea that banks are now going to try to penalize those who do not carry balances or pay late fees is the last straw.
This is a call for a boycott.
A call to break these institutions by destroying their deposit base and "net interest margin", one consumer at a time, as a protest against the outrageous actions these firms have taken in terms of risk and their shifting of the costs of that risk, which should have resulted in their failure and closure by The FDIC and OCC, onto the backs of their customers via outrageous fees, interest rates and costs, along with the direct subsidy being paid by all taxpayers generally.
Are not 30% credit card interest rates enough, while these four banks all can and do borrow at near-zero from The Fed and have issued debt with an FDIC guarantee (that is, funded by you)?
If that is not enough to dissuade you, how about Wells Fargo holding an unknown amount of Wachovia "off-balance sheet assets" at god-knows-what in terms of valuations - and justification for same - while cutting back HELOC lines and credit cards?
If not that, how about the practice of large banks re-ordering transactions to generate the maximum amount in overdraft fees, with the brunt of these fees and costs being born by those least able to afford it - the working class person? Yes, I know,