Friday, February 09, 2007

Bank of America Gets Amnesty In Bond Probe

 BofA gets amnesty in bond probe


The Department of Justice has granted Bank of America Corp. amnesty in its ongoing investigation of bidding practices in the municipal derivatives industry, the bank said Friday.

The Charlotte bank said the leniency agreement will keep the department from bringing a criminal antitrust prosecution against the company in the matter, in return for its continuing cooperation.

In a separate agreement, Bank of America said it had agreed to a $14.7 million settlement with the Internal Revenue Service related to certain bond transactions. Under the agreement, the bank said it did not admit to any conduct that would be subject to liability under the Internal Revenue Code.            Charlotte Observer

   I used to be a customer of the bank that merged with this group. That would have been NationsBank, which was a fairly good bank at the time.

   Since becoming BofA though, they have turned into nothing but shit! Fees, fees, and more fees.

   I received a check from a company that I did some work for here in Greensboro, NC. It was on a BofA account so I went to one of the local branches to cash it as my bank was a little out of the way. I figured that I would pay the $5 that the banks charge to cash a check from another bank and be on my way. Not gonna happen at BofA! The only way that they were going to cash this check was if I opened an account! That did not go over to well with me so I ended up going to a check cashing center next door to BofA. The clerk at the cashing center told me that BofA provided her place with lots of customers. No doubt!

   Is trying to force someone to become a customer illegal? I need to find that out someday. Film at 11!


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