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“Bank of America: Too Crooked to Fail”

This is a follow-up to my post: America’s Worst and Most Complained About Banks.

And it is an additional lead-in to the upcoming Patreon Feature: Banking Industry Overhaul Timeline: Saturn in Capricorn (read preview)

 

Posting an interesting comment from Nancy, with my reply:

NancyC/Seattle 

  1. Link to journalist Matt Taibbi’s RollingStone expose, “Bank of America: Too Crooked to Fail” published May 2012.
    https://www.rollingstone.com/politics/news/bank-of-america-too-crooked-to-fail-20120314

    Taibbi points out even when the bank is court ordered to pay fines for its repeated criminal acts or make financial restitution to defrauded credit card holders or even investors, Bank of America doesn’t comply.

    Edited excerpt from opening paragraph:
    **At least Bank of America got its name right. The ultimate Too Big to Fail bank really is America, a hypergluttonous ward of the state whose limitless fraud and criminal conspiracies we’ll all be paying for until the end of time. Did you hear about the plot to rig global interest rates? The $137 million fine for bilking needy schools and cities? The ingenious plan to suck multiple fees out of the unemployment checks of jobless workers? Take your eyes off them for 10 seconds and guaranteed, they’ll be into some shit again:

    (….) They’re out of control, yet they’ll never do time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live-at-home son could possibly be responsible for those dead hookers in the backyard.**

    I would like to ask Lada. Can you do current calibrations for Bank of America? Are you able to calibrate if values have worsened or improved since 2008 bail outs, Taibbi’s 2012 expose and prognosis for future?

    Yes, I am able to calibrate ANYTHING and anyone at any time.

    This is a good question, Nancy. But I’ll post my calibrations on Patreon. I am starting a new weekly Quantum Calibration feature + other cool regular features on Patreon! Look for official announcement later today!

     

How to get my SATURN IN CAPRICORN predictions:

Subscribe and support me on Patreon to get this one-of-a-kind article, combining Western Astrology, Lada Ray Predictions, my trademark 4D Geopolitics and 5D Earth Shift, plus the ancient Eastern System of 180-Year Cycles & Period 8! The article will be published on Patreon once I get 25 subscribers. I currently have 22. This feature will be available exclusively to my Patreon supporters and patrons.

Here’s a public Peek & Preview for you!

How to get QUANTUM CALIBRATIONS, 4D GEOPOLITICS, 5D EARTH SHIFT, MULTIDIMENSIONAL UNIVERSE & other weekly features on Patreon:

These features will be introduced one by one as I get more Patreon subscribers. The more followers, the more I’ll be able to share. You can get them all by subscribing and supporting me on Patreon!

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TIP: If you go to Lada Ray on Patreon page and look on the left side, under Patrons and Goals you’ll see FEATURED TAGS. There will always be 5 featured tags there, although some of these tags may change. If you click on them, each tag will display all posts in this category.  

We are already making strides with the new Quantum Calibrations feature, even before it has officially begun. You’ll see 3 new posts from Jan 24 and 25!

REGULAR WEEKLY FEATURES START NEXT WEEK!

To see the complete list of posts go to POSTS.

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America’s Worst and Most Complained About Banks

I was just doing some research and stumbled upon this article in magnifymoney.com.

They also post the best and most current CD rates in the US: Find it here.

I thought it would be useful and appropriate to let you all know about this, since big changes in the global banking are coming and I’ll be soon doing an article on Patreon on that. Read: Banking Industry Overhaul Timeline: Saturn in Capricorn (preview).

Of course, take everything with a grain of salt and always do your own research when it comes to financial matters, don’t just believe anyone’s word! Still, this is useful info. As for me, I had closed all my accounts with the likes of Bank of America, Citigroup, Wells Fargo, JP Morgan, and any other major banks a long time ago, and never looked back.

This article is by Nick Clements (article’s direct link: magnifymoney.com). It is from 2014, however, the info remains current and some data is very notable. Here is an excerpt:

‘Most Complained About Banks – We crunched the numbers’

  • Bank of America remains America’s most complained about bank
  • Ocwen has rapidly become America’s most complained about mortgage servicer. (Not surprising, given the mistakes they have made. If you are a customer, you could get money back from them. Find out more here.)
  • Citibank Credit Cards have the highest complaint ratio (complaints as a % of total credit cards)
  • Capital One received the most retail bank complaints per branch (with Bank of America a close second)
  • Experian is the most complained about credit bureau
  • Encore Capital Group is the most complained about debt collector

If you are having a problem with your bank, you can get help with your complaint from the CFPB (Consumer Financial Protection Bureau). Just file your complaint online, and they will help you get answers – and maybe even money. I told the story of my friend, who had his credit history fixed and money reimbursed, in this DailyFinance article. The CFPB has received over 400,000 complaints since it was launched, providing a real alternative for people to get help.

The CFPB makes its complaint database public. To date, over 250,000 complaints have been made public (and more are being added to the database every day). At MagnifyMoney, we believe that public access to complaint data is a great public service. It enables people like us to identify trends, rank banks based upon complaints, and help consumers make good financial decisions.

Today we are pleased to release our analysis of the complaint database.

Over 76,000 complaints were made public during the first six months of the year. Of the big four banks, Bank of America remains the most complained about bank. 5,261 people complained about BofA. Wells Fargo received 4,834 complaints. Chase received 3,988 complaints and Citibank received 3,025.

What does this mean for you?

We have crunched the complaint numbers, and have the following tips:

  1. If Ocwen is your mortgage servicer (now the largest non-bank servicer in the country), you should pay close attention. They have a history of mistakes, which can be very costly. If you are having problems with Ocwen, don’t be shy. Complain to the CFPB, and tell Ocwen that you are going to complain to the CFPB. They are a bit touchy, given they have just been punished with a judgment of more than $2 billion due to their mistakes.

  2. If you are receiving calls from a collection agency, you have rights. And if someone like Encore Capital Group keeps calling you – and you don’t know why – don’t be afraid to raise the issue to the CFPB (and tell Encore that you are doing so).

  3. For choosing a retail bank, we have long argued that branch-free banking is the way to go. Traditional banks pay the lowest rates on savings accounts, charge the highest monthly and overdraft fees, and limit you to their ATM network. Look at our checking account and savings account pages to make your checking account free, earn the highest interest on your savings account, and ditch your traditional bank. Of the big banks, Chase has half as many complaints per branch at BofA. And PNC and US Bancorp always did well.

  4. Credit bureaus can make mistakes. You should check your credit report every year, and make sure that mistakes aren’t there. You are allowed to get a free report every year from all three bureaus, and make sure you do. To get the issue fixed, you can go straight to the bureau. But, if they don’t move quickly enough, use the CFPB.

  5. The biggest complaint categories for credit cards are billing disputes and ID fraud. Sign up for alerts with your credit card company (they can send you an email if a large purchase is made). You should also download your bank’s app so that you can keep an eye on spending. Any suspicious activity should be reported immediately – and you should keep a paper trail of your communication with your bank. The earlier you catch anything suspicious, the better.

Lada’s 2 cents:

So, according to the above report, the most complained about banks are Bank of America, Citi, Wells Fargo, JP Morgan, Capital One — all ‘too big to fail’ major multinationals. Bank of America alone had over 38,000 complaints registered.

The regions with most registered complaints: Washington, DC; Miami, FL; Atlanta, GA.

*** If you are interested in my predictions for the US/West’s banking industry and financial system situation for 2018-2020, support Lada Ray on Patreon!

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Read more Banking Industry Overhaul Timeline: Saturn in Capricorn (preview)

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