You’d think that a credit card customer who pays his or her bill on time is a good customer. But these customers don’t make the banks and credit card companies money—at least not enough of it.
Bank of America
Ken Lewis’s deal too far
As Hugh McColl built North Carolina National Bank into NCNB into Nationsbank into Bank of America, Ken Lewis was the guy who made all those mergers work. McColl was the swashbuckler, Lewis the beancounter. From a 2005 profile in by Fortune by Shawn Tully:
Lewis’s cool restraint impressed McColl. “He always had good credit judgment,” says
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So Banks Really Want to Help Customers? Here’s What They Should Do
Last week, Bank of America and Chase announced some supposedly customer-friendly changes to the way they assessed debit card overdraft fees. The changes did not impress anyone.
Debit Card Fees: Changed, But Still an Easy Way to Get Ripped Off
The banks say that being threatened with legislation had no impact on their decisions to make annoying debit card overdraft fees slightly less annoying. Instead, Bank of America and Chase say they are changing their fees just to help out their customers. How nice of them.
New ‘Basic’ Credit Card: Basically More of the Same
Bank of America is introducing the Bankamericard Basic Visa, due in part to consumer requests for “products that offer simple and straightforward solutions,” according to a BofA exec.
Watch Out! Bank Fees Are Bigger and Badder
Unless you’ve been locked in a vault, you know that the banking industry isn’t doing so hot. Faced with declining revenues, banks are creating or increasing all sorts of fees on its customers.