Bank of America Woes (part 3)
$3.3 Billion in employee bonuses 2008, after accepting bailout money.
“Bank Of America Customers Get The Heck Out Of That Bank!” Senator Dick Durbin
Senator Durbin reveals that it costs a bank 7cents to complete a transaction via debit card per transaction. They charge customers and merchants both for the transaction itself and a usage fee to an astounding 44cents per each party. After congress passed reform, Bank of America announced a debit card fee in the amount of $5.00/ month. This will offset the losses, due to the reform, by an astounding 200%.