by Greg Garson When you take a step back and evaluate BofA’s current situation, you could potentially have sympathy for them.  The failing mortgage business (thank you, Countrywide); the under-performing investment business (thank you, Merrill Lynch); the Durbin amendment (over $2 billion in lost interchange fees) and the Reg E (another couple of billion in [...]

by Greg Garson The Durbin Amendment passed a few days ago and will be enacted on July 21, 2011. Senator Durbin was thinking about consumers when he envisioned this law. He wanted to take the money out of the hands of the “evil” banks and give it to the consumers. So, starting in July we’ll [...]