Tuesday, November 1, 2011

Morning roundup: Should BofA have kept fees hidden?

Here's what's happening this morning in financial news:

  • The Atlantic's Daniel Indiviglio makes a case for the danger of transparency, wondering if Bank of America would have been better off creating new hidden fees.
  • Big U.S. banks have increased their sales of insurance against credit losses to holders of European debt, boosting the risk of payouts in the event of defaults, Bloomberg writes.
  • Social media users posted more negative opinions than positive about Bank of America and other large banks over the last year, according to a new report from Amplicate.
What do you think? Will this morning's market slide continue? And do you think Bank of America would have fared better with the public if it hadn't been so transparent about its planned $5 debit card fee?