Bank of America Refuses To Cash Paychecks For Its Customers, An Update to BofAs "Donation", and Wells Fargo Offers Less Fees for a Fee

<p><strong>In this episode, I discuss two new policies at Bank of America, which are actually already implemented in some states including my own.</strong></p> <p><strong>Basically, Bank of America will no longer cash checks for someone who has less money in their account than the check is worth.<br> I discuss how this targets the lower-to-middle class folks who bank there who don't have or can't get direct deposit.<br> Plus, Bank of America ends provisional credit for checks deposited at the ATM, which basically takes away the one perk the ATM has. What a travesty.</strong></p> <p><strong><br> Secondly, I discuss more about Bank of America's $1 Billion "Commitment" to end racial inequality. Bank of America announced today where up to </strong><a href="https://newsroom.bankofamerica.com/press-releases/community-development/bank-america-directs-300-million-its-1-billion-four-year"><strong>$300 Million of that is going.</strong></a></p> <p><a href="https://newsroom.bankofamerica.com/press-releases/community-development/bank-america-directs-300-million-its-1-billion-four-year"><strong>They are investing.... in a bank? Huh? How does this help people in need?<br> Fun fact: It doesn't. It gives capital to 3 banks that have really small footprints.</strong></a></p> <p><strong>I talk about what the point would even be to invest in these banks and how BofA is going to be wanting to become equity partners with black and hispanic owned business, as if they are "Shark Tank" or something!</strong></p> <p><br></p> <p><strong>Finally, </strong><a href="https://www.fool.com/investing/2020/09/02/wells-fargo-launches-new-checking-account-with-no/"><strong>I discuss Wells Fargo's introduction of an account with less fees. It will cost you a fee of $5.</strong></a><strong> It's called the "Clear Access Checking" though it's clear to access this, you have to pony up $60 a year for nothing but a piss poor attempt to hide their crappy service.</strong></p> <p><strong>I talk about how accounts that block overdraft fees help no one, and