A debit of gratitude to Bank of America
Michael Hiltzik for the Los Angeles Times:
The big bank’s move created a consumer furor, with consumer activists proposing boycotts by or mass defections of BofA customers to smaller banks without fees, and the bank itself becoming a popular symbol of the financial industry’s supposed disregard for the average customer.
Unfortunately, because of the lobbying power of the banking industry - in particular the big banks like Bank of America - the smaller banks are finding it difficult to compete even with consumer friendly products.
