It’s no secret banks and credit card issuers have gotten way out of control recently with questionable charges like default clauses, skyrocketing service fees and a slew of other slimy tactics to bleed every penny from your pockets.

Is Bank of America among the first to make changes? Hell no and I think their feeble attempt to make it appear as though they are is a slap in the face to consumers.

Here’s what they’ve done, you decide if it’s what you really needed.

Last week Liam McGee President of Global Consumer & Small Business Banking for Bank of America announced its new program called “A Little Knowledge Is a Powerful Thing”.

The idea is that they’re going to simplify the language that explains their fees in a simple, straightforward language that’s easy to understand.

Ok to me this is a classic example of instead of giving consumers what they want, treat them like they’re stupid and trick them into thinking they’re getting what they want.

I’m quite certain that if Bank of America polled their customers and asked whether they wanted reduced & reasonable fees, or explanations of their fees - the outcome would be unanimous.

I assume here’s how their new “easier to understand” literature may look.

“Customer agrees that Bank of America will screw you without warning if your credit score ever drops. Bank of America intends to ream you with higher bounced check fees and lastly - we’ll bend you over with features you don’t ask for like courtesy auto-draft”

Well, it is easier to understand.

Consumerism.org has a list of some of Bank of America’s cute little charges.

Seriously, who do you think you’re kidding with this new program? In my opinion you didn’t reform anything. You didn’t actually make an effort to cater to your clients (you know, the ones who helped you make 76 billion dollars last year)

All you did, at least in my opinion was insult every customer you have and knock your already tarnished reputation down another rung.