Ten lawsuits—or the equivalent thereof in free BoA customer education PowerPoints—for operative “Lauren P.” [HuffPost but it’s already ruined]

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  1. Hint to Bank of America: a good way to help customers use credit responsively would be to charge reasonable interest rates and fees, not to mention clearly spelling out what customers can be charged extra for.

  2. Learn how to use credit my way! Rack up big bill, threaten to sue the bank if they don’t forgive them, and get your face on HuffPo. Step 3–PROFIT!!!

  3. The BofA across the street from my downtown business is closing its doors on Friday. I’m going to miss going across the street to get change from that one sweet young teller who looks like the love child of Halle Berry and Prince.

    The tellers over at the Washington Mutual Chase Bank next door are all shriveled old hags that reek of stale tobacco and hair spray. They have, however, created a rather impressive mountain of cigarette butts in my parking space, which abuts the back door of the bank.

  4. [re=489164]Way Cool Larry[/re]: What usury laws? The banks all movved their technical headquarters in Delaware to avoid them.

    On an completely unrelated note, I certainly hope the final health care bill follows the Republican suggestion to allow health insurers to move across state lines.

  5. [re=489164]Way Cool Larry[/re]: From Wiki: “Smiley v. Citibank … is a 1996 U.S. Supreme Court decision upholding a regulation of the Comptroller of Currency which included credit card late fees and other penalties within the definition of interest and thus prevented individual states from limiting them when charged by nationally-chartered banks.”

    Honest Injun.

  6. There are some community banks, but they call themselves “business banks” now because they can’t compete with the “free” checking the big banks give you if you direct-deposit your paycheck.

    [re=489164]Way Cool Larry[/re]: [re=489178]JMP[/re]: My AA/Citi card jumps to a 34.99% interest rate if I mis-form one numeral in the ZIP code on the envelope I mail it in. That’s why all the credit card companies moved to South Dakota, which was previously not known as a banking capital. Thanks, Daeschle! Phil Gramm’s probably got his hand in this pie too.

  7. [re=489178]JMP[/re]: Here in California, licensed banks are exempt from usury laws!

    The right wing nutz are yelling about letting health insurance companies cross state lines to sell policies. Same thing would happen that took place with credit cards – insurers would move to the state with the least regulation (and lowest premiums for the state insurance fund – that pays policy holders if the insurer goes BK).

    Notice the credit card companies are reducing the available credit to the amount outstanding on the cards. Not only does this dramatically increase the chances of overdrawing the cards, it hits the holders’ credit score, as FICO loves unused (available) credit…

  8. As much as I like the principle of local banks, I am sure as soon as I go to the lands of the FORENZ (likely a 25 mile radius from the bank), my card will be canceled and I won’t be able to get a new one without going in person to the branch between 11-3pm. A lot of good that will do me in Sudan.

  9. Only a lawyer could think of not paying a bill from a company and then threaten to sue the company he didn’t pay. Luckily it is a bank he is going to sue so it turns into a pot calling a kettle black sort of thing. He better get a quick court date before Huffpost puts BofA out of business.

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