New credit card fee is a windfall for Bank of America, unfair for customers

Bank of America’s $59 annual charge for about 5% of its cardholders that begins April 11 appears to violate the spirit of financial reforms. Sue Laman wasn’t just upset that Bank of America is slapping a $59 annual charge on her credit card account. She was upset that, with a balance she won’t be able to pay off anytime soon, she’s effectively powerless to do anything about this new fee. (30 mins ago)

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