Looked to me like BofA pretending to care.
To their credit though, many of the suggestions people give - like stop charging fees - are ridiculous.
It is sad you think it is ridiculous. Kinda shows the bank have already won.
Lets pretend you could buy a product wholesale for $1 magically turn it into 10 products and sell it for $5 ea ($50 total). Would you also
need to charge fees on top of your 5000% markup or would that be "enough". Now lets stop pretending. That is exactly the model banks work under. They have an exclusive monopolistic right to print money from nothing using fractional reserve. They borrow money for <0.5% turn $1 in deposits into $10 in loans and charge 5% to 20% on the lent money. The ides they also
need fees because the 5000% gross margin on their product is insufficient is just asinine.
As far as bank being unable to operate without fees:
I use USAA Savings Bank (granted not an option for everyone)
a) no account fees
b) no overdraft fees (overdrafts charged to my CC so I will pay interest)
c) no ATM fees (USAA also refunds the ATM fee charged by the ATM)
d) no check fees
e) free deposit of checks from my android phone
f) no annual fee and 7.99% fixed interest rate on my credit card.
g) My car loan is at 3.9%
f) Bank is owned by members. Despite having almost no fees USAA returned "only" $857 million in profits last year to members/owners.
Banks don't need fees but they do need to convince you that they must charge them in order to suck always increasing amount of money from consumers.
So far looks like they are doing a good job.
