BoA Will Raise Customer Fees Despite TARP Bailout for "Lost Revenue"

Bank of America will charge clients new monthly fees if their accounts do not meet a minimum balance, the bank's CEO Brian Moynihan said on Tuesday.

"We will increase the account balance minimums or charge monthly fees in lieu thereof, which is the choice of the customer," Moynihan said at a Barclays Capital conference in New York.

These and other measures will allow the bank to compensate for revenue lost due to new regulations put in place following the 2008 financial crisis that led the US government to salvage many bank with massive bailouts, he said.

Interesting to see how this will play on Main Street, and if it gets play in the 2010 midterm elections this Fall.

Comments

[Justin Bieber Supra]

I travel out of Texas frequently and I must say the roads here are very, very nice for the most part. Sounds like some of you are spoiled...take a trip to some of the other states and you and your car will be glad to be back on Texas highways. With that said I do agree politics is killing our transportation department.