Bank of America Fraud E-Mails released

[Antithesis]

Anonymous hacktivists reveal alleged fraud at Bank of America

Hacker group Anonymous has released emails claiming to reveal fraud at Bank of America. A handful of emails purportedly from a former employee at Balboa Insurance, a mortgage unit of the Bank of America, have been posted online at bankofamericasucks.com Further reading Met arrests Anonymous pro-WikiLeaks hacking suspects FBI seeking 40 Anonymous members after UK arrests

Are Anonymous threatening reprisals for UK arrests? Anonymous has also posted a conversation thread with its source, in an attempt to confirm the authenticity of the documents released so far. The former employee accuses Balboa Insurance of knowingly charging customers overinflated insurance premiums in the documents released. He also claims the firm has been falsifying loan documentation to proceed with foreclosures and that incorrect volumes have been reported to all lenders and federal auditors to avoid fines for falling behind on loan modifications.
More information has been gathered, but the whistle-blower noted he needed to "keep a few aces up my sleeve for my inevitable years of litigation for what I'm doing".

"I'm well known throughout Bank of America. They saw to that when they showed everyone my picture and labelled me as a terrorist," he noted in one email.
"There are a lot of honest and good people working for that company, and their concerns are constantly silenced, because it is cheaper and easier to fire people and sweep their issues under the table than it is to fix the problems."
A Bank of America spokesman confirmed to Reuters that the information related to clerical and administrative documents, and was stolen by a former Balboa Insurance employee. The firm denied that the documents related to foreclosures.
"We are confident that his extravagant assertions are untrue," the spokesman said.
V3.co.uk contacted Bank of America for additional information, but the firm had yet to respond at the time of publication.

Anonymous has been linked to WikiLeaks and the hackers previously launched distributed denial of service (DDoS) attacks against firms including Visa, MasterCard and PayPal after they severed ties with the whistle-blowing web site.
The Metropolitan Police force arrested five people suspected of involvement in these DDoS attacks at the end of January.

http://www.v3.co.uk/v3-uk/news/20338...d-bank-america

Here is another article:

http://www.businessinsider.com/anony...cuments-2011-3

[Surealistic]

banks taking all your money?

/gasp

[Takedown3]

people bending over and letting corporate criminals rip them off

/gasp

don't be stupid this type of shit needs to be release to the public and people involved need to be brought to justice even though this release will most likely result in zilch

[Surealistic]

oh im totally in agreement, we need to drag out one bank official and shoot him in the street, just as a warning to all the rest, but unfortunately that will never happen, and the banks will still take your money and will find all kinds of ways to cheat the system

[Meresgi]

this type of shit needs to be release to the public and people involved need to be brought to justice even though this release will most likely result in zilch

Sadly that's most likely what will happen. These people will get away with this shit, people will forget in a matter of days after Charlie Sheen does something outrageous or there's another teenager mother on TV.

[Ragnus]

I'm actually pulling out of BoA today or tomorrow. Only went with them because they had the majority of atms near my college but I'm getting sick of being dicked around by them now that the convenience is gone since graduating / leaving the area.

[archibaldcrane]

Obviously BoA is probably about as bad as it gets as far as shady practices.

But I've never gotten hit with a fee of any sort in 6 years from them, their ATMs are great for check deposits and they're everywhere. I'll gladly continue to condemn their practices and bank with them - I can handle the hypocrisy.

[Niiro]

It's a bit of a conundrum for the average person, I'm in the same boat as you. When I opened my account at like 17(?) I just went with BoA cause that's where my parents had their account, a few years later they moved to Chase but I stayed since there weren't any yearly account fees and for general convenience.

While it doesn't sooth me that I bank with a shady company, it's not like your average person leaving them is gonna make a difference (even en-masse) much less someone like me with practically no money to begin with. If they did the sneaky fee stuff it would obviously alter my decision but banks like BoA generally do their shady accounting on the macro-level where it's way more profitable and easier to get away with.

[Diamicles]

I'm in the same boat with archi and niiro...haven't had a single problem with BoA since I started using them back in 2004. Basically every single bill I pay is online through their website, and the convenience of their ATMs are really nice as well.

Probably, again, because I don't have much money to make it worth their while to try and take.

Where there is money to be made, ethically or not, there is always someone trying to take advantage.

[Yugl]

I used a BoA card because BU's environment practically forced it upon you, but I'm considering changing. The main reason isn't the scam itself, but the fact that if something does happen at the micro-level, the response isn't going to be sympathy, it's going to be "Why did you stay with them after they were involved in S scandal? Of course they'll rip you off too!".

[Demosthenes11]

as soon as I finish paying my CC im out of BofA. People have been pushing me toward a CU for a while now so I guess it's time.

[Ksandra]

only thing I still have with BoA are my credit cards, because I got an insanely cheap rate when I worked for them. (they give you prime + 1%, you really can't beat that).

But I hate hate hate having any connection to BoA. Even though I was on the low end (teller) I know of shady shit that they did that disgusts me. (ie signing people up for CCs without them knowing)

I think after we're done finding a house and buying it and I don't have to worry too much about my credit fluctuating, I will try to get a different card, because as much as I love the interest, it really isn't worth being connected to them at all.

[edit] and though I know BoA is too big for Anon to take them down, any hit they get makes me happy. Really, after being just on the teller line, there is almost zero reason to be with them. They are so expensive, don't let them make money off of your money.