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BofA Plans To Charge Customers Unless They Buy More Products, Have Enough Money: Report

March 1, 2012

It looks like Bank of America wants to be an investment bank, not a bank for ordinary deposit accounts. If that is the case, they should just be an investment bank. Isn’t that what we had prior to repeal of Glass Steagall, separation of depositor banks from investment banks? Perhaps we just need to repeal the repeal on Glass Steagal and tell their depositors to move their funds to an insured bank. BofA could forgo Federal FDIC insurance and hang up a shingle in Vegas, or Monte Carlo.
Read the Article at HuffingtonPost

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