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Bank of America Nixes Debt-Protection Product

by | Sep 11, 2012 | Credit Card Debt

For the longest time Bank of America (and others) offered products called Credit Protection Plus and Credit Protection Deluxe.  Sounds like a good plan to have, right?  That’s what Bank of America would have you believe at least until recently.  As the following article discusses, Bank of America has stopped offering these protection plans to its consumers.

 http://www.marketwatch.com/story/bofa-nixes-debt-protection-product-2012-08-21 

Bank of America CLAIMS that this decision is part of the bank’s “larger strategy to streamline our business…”   Right…  It has nothing to do with the recent $210 million settlement between Capital One and federal regulators.  Good try Bank of America, but we can see right through you.  Our only hope is that the others out there still offering this add-on service will follow along.

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Kevin Fallon McCarthy

Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.