Bank of America announced recently it has raised its ATM charge for noncustomers to $3.00 in three-quarters of its locations around the U.S. The fee ranks as one of the highest fees imposed by banks on noncustomers for withdrawing cash from a Bank of America ATM. At Bank of America, spokeswoman Betty Riess says the higher fees help offset the "significant investment" the bank has made to upgrade and expand its cash machines. But some might have to wonder if the move could have been done to cushion its earnings from its $2 billion cash investment in Countrywide Financial, who's stock has struggled since the deal? — Gerald Magpily
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Tags:
m&a,
Bank of America,
Countrywide Financial
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Goodbye Bank of America you ripoff artists!