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So I've written several posts about this all over the place but I keep getting questions and PM's so it makes more sense for this to have its own thread.
First, I need to tell you that while I have no problem sharing a great deal, …
In reply to the post about BoA being fined... seems like every major US bank is getting hit with similar fines recently. Makes no sense, except when you realise the US government is in debt and they get proceeds directly from such fines. Conspicuous I think.
P.S. On the contrary, I like BoA... they have small bonuses when opening up accs with them, but I recently applied for an Alaska Airlines credit card and, since I am from Europe (currently away for 6 months in north Chicago suburbs opening up a small business), was initially declined due to mismatching SSN address/name info (guess should have entered my name only with English letters on the app, not the diacritic marks).. i called them and they asked a few standard compliance questions, then approved me but with a low $1K limit. Either way, was very happy due to good customer service & 50,000 bonus airmiles after hitting my minimal spend requirements + free companion pass. I know this is a big off-topic, but as they say, my 2 sents. Fines will only make such banks more resolute to get new clients = more revenue.