Remember all that outrage on DailyKos over Bank of America's decision to charge a measly $5 a month for the convenience of holding debit cards? Recall how crazy people got 'cuz CEO Brian Moynihan got incensed that his people were getting dissed as too greedy?
Well you can suck it up Mr Dodd and Mr Frank because Bank of America is going on a charm offensive.
Bank of America is considering softening its controversial policy of charging some customers for making purchases with their debit cards, according to a person familiar with the bank's plans.
("some customers" = anyone without a premier account, also known as "most customers".)
It may be hard to believe, but Bank of America still has customers. They are comprised in equal parts by folks too busy, too lazy or too clueless to move money to the nearby credit union.
These lucky customers now have a great shot at being the recipient of the debit card fee forgiveness courtesy their friendly neighborhood TBTF Bank.
Let's look closer at the Bank's policy to see who will be forgiven:
Under the new plan, customers would be able to exempt themselves by having their paychecks deposited directly with Bank of America, maintaining minimum balances or by using Bank of America credit cards.
Heard that? Any customer can "exempt themselves"!
And how do you do that? Just by having your paycheck directly deposited into the super-safe Bank of America account. No more excuses for complaining, BAC haters.
What's that? You don't have a job or are self-employed? Not to worry ... you can just maintain a minimum deposit of $20,000 in your savings and checking account, can't you?
Don't have Twenty Thousand Dollars? Just apply for a credit card with copies of your two latest paychecks, and they'll send you one in the mail!