'Get the heck out of that bank.'.
Position | REGIONALREPORT Charlotte |
-- Democratic Sen. Dick Durbin's advice to Bank of America customers Oct. 3 after it announces it will institute a $5 monthly debit-card fee. Reason: the Durbin Amendment (named for you-know-who) to the Dodd-Frank Act, which limits "swipe fees"--what banks charge merchants for debit-card transactions--and will diminish the nearly $16 billion a year Charlotte-based BofA and others get from them. He makes his comment on the Senate floor
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"I have an inherent duty as a CEO of a publicly owned company to get a return for my shareholders."
-- BofA CEO Brian Moynihan Oct. 5
You don't have some inherent right just to get a certain amount of profit if your customers are being mistreated."
-- President Barack Obama Oct. 3
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"I, like you, get a little incensed when you think about how much good you alf do"
-- Moynihan to BofA employees during a global town hall Oct. 18, expressing his frustration with the bank's negative image in light of its community service. "You ought to think a little about that," he tells critics, "before you start yelling at us."
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