279% interest on BofA credit card

BofA 279% interest

Courtesy of a reader, no photoshops were harmed in the creation of this usury. Granted, the finance charge seems to apply to a minuscule amount of what we can hope is merely an overdraft, or some other comparable fluke, yet all vocal consumer protection advocates in the Hill may want to take a look at what exceptions allow BofA to charge almost 3 times the balance as annual interest.

Congress has been busy gutting financial reform bills. So, I’m sure they’ll get around to making the loopholes for the banks even bigger. But only if we allow them to do it.

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