Thursday, March 25, 2010

Bank of America does well again

Who is this new CEO Brian Moynihan and what does he think he is doing to the bank America loves to hate? First Bank of America decides to make people more responsible with their finances by not allowing debit purchases for accounts without the cash to cover the purchases. Now they are putting together a program for home debt forgiveness. This is beginning to sound like a big turn around for Bank of America.

The program is designed to get homeowners out from being underwater because of the real estate crash. It shows a willingness on the bank's part to help citizens fight for their financial welfare. You can read more about it by clicking on the link.

I guess maybe someone in the Bank of America hierarchy finally realized programs like these end up creating a long term value.