Comment Re:I will be closing my BOA account.... (Score 1) 535
My bank used to be a hometown bank, which was both good and bad. Customer service was great, but they too lagged far behind in innovation compared to the bigger banks. Several years ago they were acquired by BB&T, which caused me some concern at first since I wasn't sure I would like the big bank changes. However in this case it has been a very positive experience. Service levels remain high, and they've added almost all the missing features that my hometown bank wouldn't/couldn't offer.
As for BOA, I don't think I'd ever willingly bank with them even without knowing this dirt on them. My only experience with them is from a fixed-term line of credit that we've had for years that originated with MBNA, who was subsequently acquired by BOA. Within about a year after the acquisition, with no notice whatsoever, we realized that our credit line was closed to further withdrawals. Despite never missing a payment (in fact the payments are drafted automatically from my bank account), and having no derogatory information on our credit reports, when I called I was told that the majority of acquired open accounts were closed after review, with no other explanation. I could continue paying it off according to the original terms, but we could no longer make use of the line of credit.