Bank Of America Charges Customers $12 Monthly Penalty Fee For Being Poor
Bank of America promises prospective customers that it will help them to “get a checking account that works for you”. Bank of America has a sick and twisted idea of what works for its customers, however.
Today, Bank of America announced that it will punish customers who are going through hard times by charging them a $12 monthly fee just for being poor.
The fee will be inflicted by Bank of America against its own customers who allow their checking account balance to dip below $1,500.
Remember back in the day when your parents told you that putting your money in the bank was the safest bet? Now, Bank of America is flipping the idea of fiscal responsibility on its head, taking money away from people just to punish them for not having enough money.
This cruelty is a manifestation a particularly Republican model of fiscal responsibility, it turns out. During the 2016 election cycle, people affiliated with Bank of America donated to Republicans over Democrats by a 2 to 1 margin.