Bank of America Under Hacking Attack?

Jeez, this is a shame. Perhaps BofA should be keeping employees in place who might be able to help with this problem instead of planning to lay off up to 30,000!

A teenager with a home PC >cannot< take down a multi-billion dollar bank with a nation-wide infrastructure. How is it that this "Gibson", a so-called "expert" can be published and not fact-checked?

They are charging 5 dollars due to the new frank dodd credit/debit card act that went into effect Oct. 1. They are no longer able to charge retail business (that includes my small business) the rates they once used to, so now they are passing it on to the card holders. So, I as a tiny small business owner was getting screwed, and now as a consumer at the grocery store, I am getting screwed. Seems like they will get their money either way. 20 years of exorbinant fees for business, and now fees for consumers cards. If you take a quiet moment and really think hard about this, the best way to get around all these s.o.b’s is to get a smaller bank, use checks or cold hard cash. I see more and more people using cash at my business, and I think as time goes on, more people will go back to basics as the fees charged on everything lately seem to be nickel and diming everyone to poverty.

Can you spell credit union

Catherine – you beat me to the punch. Forget the banks.

I’ve had my accounts at a credit union for over 30 years and I will never EVER use a bank. I pay absolutely nothing. No minimum balance, no service charges.

Joe – I went credit union 30 yrs. ago when someone stole my check book and the bank told me they would charge me $5 per check to have stop payments put on. It was a nearly full book. It was cheaper to close my accounts and risk bouncing a couple of checks. They thought I was small potatoes so no loss, until I also closed my grandmother’s account as well, she was a big customer (I had power of attorney). Then and only then did a bank president come out and offer to waive the fees. Guess what I told him.

Why would anyone back with BofA? this is why I LOVE my credit union.

TRUSSELL @ OCTOBER 4,__”Why would anyone back with BofA? “___________As a customer with this bank for years, this is a question that I keep asking myself. All that is going to change soon

I told everyone last week the B of A site is being attacked by a DOS (Denial of Service) type of attack. And yes, all it takes is one person to bring the site down to it’s knees, but this is probably now being done by multiple hackers who have joined in running their DOS bots against B of A. I believe these attacks will continue (off and on) until B of A management reverses their greedy decision to charge fees for using their debit cards. Let’s see how long it will take them to make the DOS attack to debit card fee association…

Folks, get your mattresses ready. It’s time to go back to the old ways of banking. Stop feeding these greedy idiots with your hard earned money. I am a customer at Bank of America. It seems to me the bank has a “black hole” or a sink hole hidden somewhere within the bank. It has this dubious program called “keep the change.” Here is how it works: Every time you use your debit card to make purchases on your checking account, the bank transfers an amount into your savings account, and before you know it, that money disappears. The bank calls it “fees”

“Can you spell credit union”____________JOE, Now I can. I am off to the college campus to talk to their representatives. They are always there to talk to students about their services.

From reading these posts, no wonder support for Occupy Wall Street is growing. Interesting predicament that cuts across the political spectrum

The Federal Government reduced the amount banks could charge merchants for debit card transacions. The obvious question is why in a free market should the government be imposing price controls. Now we have a case of unintened consequenses– the consumer is being charged. I use B of A and intend to contiue. I’d like to see the government interfering with the free market.

I belong to what, until now, I considered to be a small bank (Fulton Bank in Pennsylvania). This month, I noticed a “sevice fee” of $2.00 on my statement. I took the statement to my local branch and was informed that the “fee” was for the copied images of the front of my checks that were previously included with my statements for free. I have to admire the creativity of the banking industry–they are masters at devising “fees” for practically everything. You’d think they were an airline!

“and let competent and honest people run this country”. . . Like who? There is certainly no one currently running for Pres that fits that description.

Strange this is only reported on one major news site. More than likely is a systemwide software installation gone bad and they do not want to admit their error. Getting rid of the many experienced IT folks for young cheap whippersnappers that think they know it all. The login has changed to the same as used on AT&T so you would assume they are in the process of installing this new system or upgradiing, and it went wrong. And voters have no reason to complain about the state of american banking they supported the politicians that did away with Glass Steagall and allowed the forming of these big banks, bad move so is privatization of what should be AMERICAN ASSETS oil electricity food things all need for basic life and given freely in the earth, a few take to rule for profit, only bliind sheep would follow those that love money more than the lord.

Bank of America is seeing red now.

Jim 3:28 pm —- If you don’t fire someone for incompetence… it rewards that incompetence!! —– Don’t get mad at me for pointing out this Administrations “problems”… I didn’t make them stupid!! —– And are you saying you don’t have a problem with those topics I brought up??

To wantingbalance: While I agree with your thought that BofA’s failure would cause financial havoc in this country, i.e. too big to fail; do you think BofA’s recent announcement of a potential lay off of up to 30,000 employees is going to HELP the economy? Major corporations of this country need to revamp their thinking on cost savings measures, as mass lay offs only exacerbate this country’s economic problems. Instead of mass lay offs, how about salary cuts across the board to avoid significant jumps in unemployment? Perhaps the top brass can take a 20% pay cut with no bonus, and the worker bee employees could take a 10% to 15% pay cut, with the lowest cuts going to lower pay personnel. I doubt company employees would object to pay cuts versus having themselves or their co-workers being fired. The key is cutting from the top down, with the highest cuts going to those who can most afford it.

I don’t agree with the teenager thing, but 30 years in IT tells me their most likely being hacked (DOS)

II’m moving my money to (MOA) Mattress Of America

The author of this article really needs to check the facts before posting so quickly. First of all, BOA will waive the fee for Premium customers, BUT those customers must “Maintain a combined balance of $20,000 or more in linked personal deposit accounts with Bank of America and/or eligible linked investment accounts.” Second, this Premium account is only available in the states of Mass, Arizona, and Georgia. Everyone else can have it waived with an ADVANTAGE account, which would waive the debit card fee if Maintain a $10,000 combined deposits balance (checking with linked savings, CDs, IRAs) or just $5,000 in a linked checking and Regular Savings account
OR
Have a $15,000 outstanding balance on a linked Installment Loan, or Line of Credit, or any balance on a linked first mortgage
OR
Maintain $15,000 in combined assets in linked brokerage accounts.

Perhaps the author was too busy trying to type as much terrible jargon and internet rumors before actually doing the research on the accounts…

i

Think BofA has gotten the message yet? Probably not. Customers should leave this bank in droves. The customer IS ALWAYS RIGHT. The customers are YELLING “NO FEE”. BofA is rich enough. Another rip off of the working public to line the pockets of the rich.

What I’ll say on this, is that over 10 years ago, Nations Bank (incidently an institution I was happy to see go away) by the name of Nations Bank, incured the wraith of a certain community in Albuquerque, NM. This one branch had 20 teller stations, and on a Friday afternoon, when people’s pay checks came inm, only TWO were open. The line at the teller station was so long, it went out to the door, and continued to the street. If one needed account service, it was sign in at the book, and the wait time was many times 2.5 hours or more. It was third only to the financial aid office at the colleges nearby, and the DMV office, back when it was in Coronado mall where it was take a number, and spend a day getting through.

In addition to this, Nation’s bank was notorious not only for fees, but for even justifying one fee by another. For instance if one didn’t have the money for an account balance fee, they’d take that, and then lob an overdraft on top of it; or if one used the ATM, withdrew money and had $2.25 left in the account, they’d lob you with a $25 overdraft fee, which leaves the account -$22.50. Ask them how the account could be overdrawn AFTER the fee is applied, so that the resulting overdraft is LESS THEN THE FEE ITSELF, and they’d draw a blank, then go into some lame arse excuse on how “well now it’s overdrawn” without bothering to account how based on the balance sheet it NEVER WAS before the fee was lobbed on.

Well they annoyed the customers enough, that before Nation’s Bank disappeared out of the town, the branch which had the worst record for this, got egged one Sunday morning. And it was in the news too, and you can imagine the local headlines, as like the worst offender for customer service (outside DMV) got egged. They didn’t remain in business much longer, though a little digging, they were bought up by Bank of America. Little surprises me that they should get this rep, considering that, though that buyup took place a long time ago relatively speaking (about 1 decade).

And as to their balances, they are nuts. Take the $1,500 minimum balance on my access checking. True a direct deposit of $250 a month or more can waive this, but honestly. Who, in their right mind, would leave $1,500 in this account, even if they had it, when that money could give them some return in a CD or money market account. Competitors would offer interest checking for that balance. This, is just not a good deal for the customer, even if one has the money. People with money, don’t want to go leaving it, where it can work for the bank (as they make money off lending it out, several times over due to fractional reserve banking), but without a return, the money isn’t going to work for the account holder. The idea of a checking account, certainly non-interest baring, is to handle one’s day to day expenses. It is NOT an investment account, which is where people would rather have their money sit.

To me it is either a sign of something hurting , going to hurt in the near future or that they are in great financial turmoil and present pain and trying to mend or cover something……how insane for a top paid and well bonused CEO to approve something like this in such troubled times? U.S. Bank is rock solid , they are a good bank, i don`t believe they bought up thousands of BAD mortgages hoping to make a buck off of quantity low sell profits………perhaps this may be the feelings Occupy Wall street has , banks have done this to themselves, they got tax payers bailouts for a specific purpose then refused to do with that money what they ought to have done.That money should have helped people extend out and stay in their homes instead of faced forclosure and the horrible debts the banks face keeping maintained un-occupied empty real estate…….it`s all just sitting there rusting into the ground and that $5 fee is to help maintain…..once again someone being made to hold these giant financial institutions up off the ground. Solyndra and the big Bank loans in the dawning age of Americas fall…….. We owe China 1.6 Trillion dollars.

Perhaps their site is down because they scuttled it to avoid the angry backlash for their greed!

For the fools wishing that it is a hacking attack, just remember, it’s not the bank they’re hurting, it’s their customers who are trying to access their accounts and pay bills they are hurting. Can you be any more stupid or shallow minded?

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From the Bank Of America started the economic crises in the first place. They will implement chips to keep us under control. Where will this world go?

@free_2_choose;
NO… a teenager with a home PC cannot take down Bank of America’s website via denial of service. Sorry.
As for Steve Gibson being an internet security expert, he holds NO security certificates and is only known in the security circle as an alarmist who spread FUD (fear, uncertainty, and doubt).
Steve Gibson is only claim to fame is writing Spinrite in assembly in the 80′s and early 90′s.