in the funds get deposited into bank of america. even then, big of america will not give me access to credit to expand my business, which you know what, we're used to, so no worries on that, but i am still working with them to modify my house loan. as i sit in loan modification purgatory, i see with this upcoming -- i think with this upcoming rfp, which in mandate the banks to set clear matrix's on how they're helping non- traditional people access loans, for closures, you know -- our they help us? let's hold them accountable. we can send matrix's fedor quantifiable of the want to be responsive to this at the very least. thank you. supervisor avalos: how long have you been in loan modification limbo? >> it is guinta b five years now. supervisor avalos:oh! >> 5? >> it is update -- ok. where we come from, we help each other. they cannot kick us out of san francisco. supervisor avalos: we will not allow them. thank you. next speaker, please. mary, mark, cynthia, josh, francisco de koster, charlie -- francisco da costa, charlie, and fred

francisco to cut ties with bank of america and consider the environmental exposure of bank of america and other banks' investment portfolios in the upcoming rfp. the city and state prides itself on being green leaders, and this is an opportunity for the city to take a step away from the carbon in 107 polluting industries supported by bank of america and some of our finance not propping up the pollution. thank you. supervisor avalos: thank you very much. next speaker, please. >> good morning, supervisors. my name is reverend carl alexander, and this is my wife. i am a leader and the san francisco organizing project, an affiliate with a much broader network called the national network for people improving communities through organizing, which is working on a national bank and accountability campaign. i also served on the committee that has been appointed to oversee the hunters point shipyard community fund which can be leveraged into creating a financial institution which creates responsible lending and strategic investment opportunities. in general, -- let me move back up. tickets -- i

the road before they're worse than they were before so you say with this combined pressure on bank of america with countrywide with merrill lynch with all of this is going on kind of at a more macro level are you saying that bank of america is going to fail and the way that lehman brothers did. well i haven't read numbers in quite some time because there are bigger fish to catch in the sea but it's my off the cuff opinion that the company green bank of america is either worth growth this is very close to the six hours that you see quoted on your screen it's give me basically i should be there. apparently you almost died in a flash were trading a lot higher six dollars of the street in triple digits just a couple of months before the collapse of lehman brothers trading at forty fifty dollars just a few months before it collapsed bank of america has been holding on by a thread there have a lot of work a lot of covert assistance but they also have much much larger problems than me from my perspective i'm just worked through the biggest a much larger god who the biggest problems in each industry

of these predatory banks. whatever comes out of this, bank of america has done criminal actions to the public, especially in san francisco. we cannot keep funding their projects, at their little projects on coal, their projects on it for closure of families. because each and every one of those 12,000 for closures impacted an entire family. and it will impact that family on many levels. the spiral of mental illness, the spiral of suicide, all of those things happen when people are desperate. and bank of america and the the two banks have been very unresponsive to the families that are involved on a daily basis. so everything we can do in san francisco on those three banks, i am in great supportive. and i do not know if a lot of people know this, but bank of america just got bankedd contract for all the unemployment debit cards in the state. [bell rings] that is another thing we should look at. why should they just get it? ok. supervisor avalos: thank you. next speaker, please. >> good afternoon. i am here to speak about wells fargo bank and hotel frank, which is a hotel and started working yet in 1998. it is a s

was fired shortly after bank of america took over countrywide bank of america so they fired her for inappropriate unprofessional conduct but recently the u.s. department of labor found that no that wasn't the case that actually they fired her as payback for her investigations that were finding massive fraud at countrywide and for trying to protect whistleblowers who she believed were being harassed and retaliate against by countrywide right now what about the other founder and c.e.o. angela ms illo of countrywide you know. he was accused by the securities and exchange commission of insider trading in securities fraud. the agency claim that he had taken north of one hundred forty million dollars in ill gotten gains out of the out of the company before it was near collapse and had to be bought up by bank of america ultimately they settled for a substantial sum sixty seven point five million dollars but the key here is that most of that was paid by bank of america or by countrywide insurers basilica himself paid out of pocket about i think was twenty two and a half million which by my calculations i

bank. i presume we have this large amount of money in bank up matt -- bank of america because they're so big they could not go under, but i read the business section every day and they talk about how bank of america may go under. so i am unclear on why that standard would only apply to small banks and credit unions. my other thoughts are credit unions are owned by their depositors. if we were a substantial part -- substantial depositor in a credit union, we would go on a piece of it and i wonder how that would impact state law. typically, somebody that owns 10% of an institution, if you own 10% of the stock of a corporation, that is a controlling interest in most corporations because no one owns a big enough piece to fight you can dictate policy with less than 50% ownership share which says to me we could potentially use this to create financial institutions here in the city that would have policies we would like even though we do not own a majority issues -- majority interest. my last point, if we are going out for this rfp, if we had a point system that gave points for being local and smal

of amica consumers across erica and customers at bank of america are rightfully of rage. it's hard oto believe they wout infer a fee on the customers who are trying to access their own money on deposit at bank of for y americath feior years has been e encouraging customers to use mu debit cards as much as possiblec it's particularly hard toca. believe a track record like bank of america.econ after helping to drag our economy off of the edge in 2008, bank of america was happy to bailout for their stupidity, their greed and mistakes and itt was just as happy to take that . money in hand out $3.3 billion in employee bonuses in the samee year 2008.bank of ame don't forget the track record of big america when it comes to handling mortgages they pick of this country country wide theyaw were going bad now the bank ofse america when it comes to the process in the same mortgages is equally is appointing when it's not refusing to answer the phone bank of america's foreclosing on american families right andand . left. least t this time they give america would be open about thes new c

despite extended commitments to be low carbon economy, bank of america is the largest underwriter of the coal industry in the u.s., contributing $3.9 billion to the call secretary in 2010. more than any other bank, bank of america is continuing to prop up a 19th century energy system at the exact time when the opportunities and job creation and the transition to a green economy are paramount concern. [bell rings] i herridge the city of san francisco to cut ties with bank of america and consider the environmental exposure of bank of america and other banks' investment portfolios in the upcoming rfp. the city and state prides itself on being green leaders, and this is an opportunity for the city to take a step away from the carbon in 107 polluting industries supported by bank of america and some of our finance not propping up the pollution. thank you. supervisor avalos: thank you very much. next speaker, please. >> good morning, supervisors. my name is reverend carl alexander, and this is my wife. i am a leader and the san francisco organizing project, an affiliate with a much broader n

use, and you do not have to worry about your past. >> -- your cash. >> her husband the lawns to bank of america want to change banks. >> a spokesperson stated the economics of offering a debit card have changed due to credit card regulations. the statement refers to the billions of dollars the bank industry expects to lose annually. starting saturday, they cannot charge retailers as much as they used to for swiping debit cards. u.s. senator dick durbin blasted the fortune 500 company saying bank of america is trying to find new ways to increase profits by sticking it to its customers. >> it is annoying and i do not appreciate it. >> there is not much we can do about it. but then if it stops, and maybe another bank will do it. >> wells fargo chase, and other banks are testing out certain these similar to this in certain states. in the america cardholders should know that if they are using their debit card to pull money out of the bank of america atm, they will not pay the fee. abc7 news. i just joined extracare advantage for diabetes at cvs pharmacy. i'm taking the right steps to manage my diabe

. >>> we know you're upset about the charges from bank of america. at they'll do to your debit card. while people are signing petitions and shopping at other banks, we haven't heard from bank of america about in idea until now. what the ceo is saying this morning. that's straight ahead. that have earned the keurig brewed seal of approval. the keurig brewed seal is our commitment that the coffee inside will deliver a delicious cup of coffee every time. keurig brewed. look for the only mark of genuine keurig quality. good morning, bob, thank you for joining us. first of all, tell us about what is going on today. >> this is an important day. it brings together two key issues. the prevention of bullying and the parent involvement. there's no worse thing with regard to preventing bullying than for people to be quiet. witnesses, victims, if you see it, you need to report it. >> reporter: what do you think of the folks gathering to show support? >> we're honored to host them today. >> they've done a lot of good things in regards to bullying prevention. they

in gains out of the out of the company before it was near collapse and had to be bought out by bank of america ultimately. they settled for a substantial sum sixty seven point five million dollars but the key here is that most of that was paid by bank of america or by countrywide insurers mozilla himself paid out of pocket about he was twenty two and a half million which by my calculations is sixteen cents for every dollar the government claimed that he had taken out and ill gotten gains ok keep it on countrywide the loans of course that were it privately induced they were packaged into securities and sold to europeans and pension funds walk us through this part of the either galloping and fraud that nobody in the obama administration chooses to recognize right you've got investors all over the world who are or are suing countrywide slash bank of america claiming that that not only was countrywide you know defrauding its its borrowers but it was also defrauding investors by by misleading them about what about the characteristics of the loans that they were in the packages of packages of loans

>> my guess would be bank of america, our primary bank. i would have to see. but that would be something that we could consider changing as part of the rfp process. that would be reviewed by our portfolio management team, and they look at the funds to decide what length of time they may stay in the fund or get moved into a more profitable and perhaps even safer investment, like u.s. treasurys, or something like that, depending on the cash flow of the city. receiving some sort of an interest-rate versus what we have. supervisor avalos: versus what we have now? >> all interest rates these days are low, i can guarantee that. supervisor avalos: in the amount of money in the concentration account fluctuates from day to day. generally, if we were to see this on a graph, what would it look like? >> during property tax season when there are literally hundreds of millions of dollars coming in, sometimes in a given week or day, obviously, that account will top out quickly. you want to make sure that we are doing delivered investment. i do not have an answer but we can ge

bank of america is charging that $5 fee, starting next year. wells fargo and chase are already testing a $3 debit fee and might roll them out nationwide soon. right now, only u.s. bank and citibank are not charging debit card fees but citibank is ruling out a basic cheque account, and that will cost $10 a month. diane? >> thank you, matt. and we've put together a list of fees for checking services charged by the ten biggest mbans in america, and you can compare them all by going to abcnews.com/worldnews. >>> and now, a man best known for the way he sings has sparked a national debate over what he said. hank williams jr., who has been kicking off "monday night footba football" for 20 years was pulled off the air last night after making controversial commercials about president obama. here's abc's sharyn alfonsi. ♪ are you ready for some football ♪ >> reporter: his rousing open to "monday night football" is iconic. last night, espn sidelined hank williams jr., after his comments about president obama and speaker of the house john boehner. >> be li

when you say bank of america, i kind of get a heart attack. you know the bank of italy and their headquarters was in san francisco and now they are in north carolina. i know how the takeover took place. todd and charles -- hopefully they will look at ways of investing and stay away from any entity that has a lot of toxic loans. any entity that has participated in that algorithms, where they brought the downfall of our economy. thank you very much. >> thank you. >> i believe i need a motion. >> so moved. sion? all those in favor? opposed? the motion carries. next item. >> item 12, authorizing the general manager of the san francisco public utility commission to execute on behalf of the city and county a lease for the chevron pipeline company pursuant to charter section 9.108 and requests the director of real-estate division prepare and submit legislation to the board of supervisors to approve a 20-year police in alameda county to operate and repair existing petroleum product pipelines for an annual rental payments based on appraisal in the amoun

other things on our mind, seriousl >>> and the bottom line on the banks, thousands of people have signed a petition against bank of america. we talked to the woman who started it. let's go "out front." >> hello, erin burnette. 200,000 people signed a petition ruling against bank of america for the new debit card fee. $5. we've been saying all weeks that the fees banks are putting on people are showing how tone deaf they are at a very bad time. the person who led the petition is 22-year-old molly catchpole. she out front tonight. she is in washington and came to talk us to. we really appreciate you coming in. >> i appreciate it. >> so you and i were talking before. you said you set up this petition just a week ago. >> one week ago. >> and what made you decide to do it? what made you say i've had enough? >> well, i'm 22 years old. i'm working two part time jobs and i don't have an extra $60 a year to give to bank of america. and i knew that thousands of other americans would feel the same way. >> and so basically they were trying to get you to $5 a month. >> yep. >> and you're someone who you're saying you work two part tim

i don't have another $60 a year to give to bank of america. i knew thousands of measures feel the same way. >> basically, they're trying to get you to pay $5 a month. you are just out of college and working two jobs a month. you don't have a huge bank account. >> no. >> you did something a lot of people don't do, that is break up with their bank. i don't know many people that love their bank. tell me how you did it? >> yesterday, i took the signature, at 195,000. took all of them from change.org, took them to the bank i usually go to, downtown d.c. presented it to them. i said, here you go. 195,000 signatures. didn't really know what to do with them. i said i want to close my account and cut up my credit card and debit card. i'm free. >> have you decided where you want to go? >> i think i will probably go to a credit union. still want to think about it. >> the bank of america hasn't responded to you and not backing down on their feeing ingfees. i wanted to ask you because you took time to put this petition together, what do you think bank of am

when bank of america announced it was hiking its debit card fees the backlash started. all eyes were then on the other big banks. tonight, they have backed down. bank of america has changed its policy a bit, but it appears here consumer power has worked at least in this case. it's where we begin tonight with nbc's tom costello in washington. tom, good evening. >> reporter: hi, brian. bank of america says it is keeping the fees, but it will drop that debit card fee for customers who use direct deposit on their paycheck, who use a bank of america credit card and also who maintain a minimum balance. no word on what that minimum balance might be. in the past it's been thousands of dollars. for a quick sampling of public opinion about those debit card fees look no further than youtube. >> i have a bone to pick with bank of america. >> pay off whatever checks you have and withdraw all of your money. >> bank wars! >> reporter: while bank of america, wells fargo, sun trust and regions financial are sticking with their plans to charge customers a monthly fee for debit card purcha

it costs a lot less for bank of america with its economies of scaism but the fed found that bank of americainstead of 7 cents. you can't make that type of a profit margin, nearly 600% in a transparent and competitive market n a free and fair market, these profits would be competed down a reasonable level. without competition, credit card companies, these things, like bank america, will continue to win. consumers and retailers and of course now the bank of america's own customers will lose. today i have written a letter to the c.e.o. of bank of america, his name is brian moynihan. i have told him that not -- it wasn't just me alone, but others have done a little calculation on his $5 monthly fee. and you know what we find out? when they thought that the swipe fee was going to be limited to 12 cents, bank of america said, well, that will cost us $2 billion a year. turns out the federal reserve said, now, it'll be 24 cents. so by our estimates, this new reform of the swipe fee may cost -- may cost bank of america $1 billion a year in revenue. guess what? if you do the calculation, the $5 a mon

. >>> and the bottom line on the banks, thousands of people have signed a petition against bank of americato the woman who started it. let's go "out front." >> hello, i'm aarerin brurn et. 200,000 people signed a petition ruling against bank of america for the new debit card fee. $5. we've been saying all weeks that the fees banks are putting on people are showing how tone deaf they are at a very bad time. the person who led the petition is 22-year-old molly catchpole. she out front tonight. she is in washington and came to talk us to. we really appreciate you coming in. >> i appreciate it. >> so you and i were talking before. you said you set up this petition just a week ago. >> one week ago. >> and what made you decide to do it? what made you say i've had enough? >> well, i'm 22 years old. i'm working two part time jobs and i don't have an extra $60 a year to give to bank of america. and i knew that thousands of other americans would feel the same way. >> and so basically they were trying to get you to $5 a month. >> yep. >> and you're someone who you're saying you work two part time job

alison, lots of furious bank customers vowing to divorce bank of america last week. i got myriad tweets over this one, over the $5 a month debit card fees. now we're hearing that the bank, alison, will probably make money from all of this. how is that? >> exactly. you know, yeah, we may be the ones who are all out raged about this, but it may be bank of america that's the last one laughing because the reality is that bank of america could wind p up being the one to make lots of money if customers switch over to using credit cards instead of debit cards. you know, we're all threatening to leave bank of america, but the reality is, analysts say it's really a pain in the butt to go ahead and change banks. many people aren't going to bother because you have to change your direct deposit, automatic payments, get new checks. it's a big hassle. what analysts say is people will all just switch to credit cards. so if you wind up carrying a balance from month to month, you'll pay finance charges right to b of a and maybe a late charge here and there. so what will wind up happen

bank of america hasn't said how many of it's 58 million customers will be paying the fee.some loyal bankt charge fees: "you used to hear bank of america, they're so big we're so little, we're still here and they're having trouble" trouble"and it might not be long before more banks follow bank of america by adding their own debit card fees. 3 here's... our... question of the day....//will... you... drop your bank.../ if.../ it... charges ...the new... debit card fee?this topic started a heated discussion on our facebook page...join it by going to facebook dot com slash fox-baltimore 3 now there's.../ proof ...that... all your.../ deleted ...text messages..../ aren't... really deleted...///. ááaáá newly... released government.../ document.../ reveals.../ ááhowáá much.../ of ...that information.../ is... being saved...///. for...// instance...// verizon..../ keeps ...a list of everyone ...you text.../ .for a year..../. áásprintáá... keeps... texts...// for... 18 months.../. áát-mobileáá five years..../ ááa-t-táá..../ seven...////. ááthisáá info... is helpful to law enforcement.../ which...

we currently bank with three banks, bank of america, wells fargo, and union bank. given the occupy sf and wall street protests happening around the world, there is a lot of focus on the lack of accountability on those three banks at least. how did we come to the decision to go with those three banks? what flexibility is there to make changes in that arrangement? >> a lot of where our accounts set is due to history. technically, these 133 accounts are spread across three banks, but the overwhelming majority are with bank of america, simply because that is the relationship the city has had the longest. your question about what we can do about reing gauging and thinking about changing or completely replacing any of our current relationships, that is what this rfp is about. it is not that easy to move 133 bank accounts. if you think about how often we think about moving our accounts from one bank to another, it is not something that we do every week or even every year. similarly, it is a lot of work to set up these accounts, make sure that the millions of transactions t

. >>> a new alert if you are a bank of america customer. g announcement about their chance to charge a debit card fee. plus, just a few hours away from the arrival of the first snow of the season. bob will update the forecast. >> tickets at the university of maryland. where does the school ranked nationally? [ speaking french ] [ speaking frenc] movie buffs! this film is tres bien, but the interest rate on your checking account is le pew. interest on your checking? earn more with new high yield free checking at capital one bank. your interest rate will be five times the national average. five times the interest! and free atms at any bank. show's over folks. make your way to capital one bank. what's in your wallet? were you crying? yeah. >>> an abc 7 i team investigation that you want to see if someone you know attends the university of maryland. the school makes no bones about cracking down on illegal parking, but judging by the numbers, is the school gouging students? john gonzalez has the report. >> the school says it is definitely not ove

morgan the latest bank, that blinked, a lot of bank of america customers hope it will not be the last everyone hopes they do not increase fees in less visible areas. >>shepard: thank you, claudia. and now a crisis consultant, and president of a public affairs company. bank of america stepped in it. depth they? >>guest: they did, and, you know, this is an industry that has been so tone deaf. >>shepard: necessity don't act like they care about anyone that has money on deposit with them. >>guest: and you see the ads, there is a great ad with the couple trying to get into the bank and they can't get in because there is a red velvet rope and a big bouncer, and the ad is all about getting access to the bank itself and how this particular bank lets you in. it is not getting in it is what happens when you get in. >>shepard: do you think bank of america will have to back off? >>guest: i predict the market will start to kick in, which, by the ways is how it should work, right? the marketplace should determine, you have other banks like the ones just mentioned saying we don't charge fees, commun