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.
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.