Wednesday, December 11, 2013
Retail Banking
I read recently that my primary bank, Bank of America, has the worst reputation of any major US bank, or something close to that. I am here to say that I have been a customer for many years, going back to well before BOA bought Bank of Boston. In over 40 years they have never made a mistake with the management of any of my accounts, not a single cent. I recently opened an account with Merrill, now owned by BOA, because it makes it simple to transfer funds between the bank and the broker, and in general I am pleased with Merrill as well. So I feel bad for the thousands of home owners who got screwed by the bank resulting in the 2nd great Depression of 2008, but I don't have a thing to complain about.
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