SHAME on Bank of America!

I would call on every business owner and consumer to immediately stop using Bank of America and protest their business practices.

I had my first challenge with BofA on 2003 when I presented my meeting planning company 5 year strategic business plan and their analysts determined that my business, being meeting planning was by default categorized as travel and that was a class C risk. The regional Vice President explained to me that a class C risk is the same as pornography and BofA does not do business with such companies.

Ok, how many small start up businesses have a business plan, are educated and participate in the professionalism if their industry? I was furious, promptly closed my accounts and went to a bank that recognized my small business, embraced me and my business success; California Bank & Trust.

Yesterday, BofA did it again. They sent me a credit card promo offer which I called to ask about on May 15. May 18 they promptly and without factual evidence to support the decision, changed my credit card terms. This is just 9 months after they took a similar action by closing a credit card account because it had a zero balance and I hadn't used it in a few months.

What are they thinking? They are a text book example of why banks need regulations like President Obama's credit card legislation and Credit Cardholders' Bill of Rights Act of 2009 (S. 235/H.R. 627). The credit card industry must be reformed to protect Americans from abusive banking & lending practices.