Can't disagree with you on that one, but it is one of the best deals for consumers. My consolation is that BofA isn't making much money off of me, and for customers with higher $$ the service is actually pretty good.
I confess I have a BofA account or two but they're really invasive with there so-called updating of personal details. Demanding to know which countries you're a citizen of and I've read cases where they freeze the accounts until they comply. Reading about that caused me to open a couple of credit union accounts and transition to them. My original reason for BofA was instant access to foreign currency but they don't do that at my local branches now.
I think a lot of that isn't unique to BofA, but tightened KYC regulation that they have to comply with, but I totally get what you're saying.
Except BofA is the only bank to do this. No other US bank has asked.
I agree, and it’s why I closed my account with them (even though I only have American citizenship, I didn’t like how invasive they are, especially since no other bank asks).