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Bank of America

Finance

60

out of 100. Number 117 of 512, counting from the worst.

  • Arbitration 15 of 20, bad
  • Renewals 5 of 20
  • Data sharing 12 of 20
  • Price & terms 12 of 15, bad
  • Data retention 10 of 15
  • Other findings 6 of 10

Where Bank of America does well

  • 60-day arbitration opt-out (website, or phone 800.283.8875); small-claims carve-out; clear online-banking cancellation.
  • NSF fees eliminated entirely, overdraft cut to $10 (max 2/day).

No court, no class action, even for past disputes — unless you opt out within 60 days.

The fine print

6 clauses and findings from the draft archive, dated 1 October 2026. The plain English comes first; the small print is the company's own words. None of these has been checked yet.

  1. No court, no class action, even for past disputes — unless you opt out within 60 days.

    This arbitration agreement requires that all disputes between you and us be resolved by binding arbitration… whether they arose in the past, may currently exist, or may arise in the future… YOU AND WE ARE WAIVING ANY ABILITY TO ASSERT OR PARTICIPATE IN A CLASS… AND TO HAVE ANY CLAIMS HEARD BY A JURY.

    Online Banking Service Agreement §12 (eff. Aug 27, 2026)

  2. They can rewrite your contract without telling you in advance.

    We may change this Agreement at any time… We may add new terms. We may delete or amend existing terms… we may make changes without prior notice unless otherwise required by law.

    Deposit Agreement and Disclosures (05/2026)

  3. Fees go up whenever; you hear about it only if the law demands.

    We set our fees in our sole discretion based on many factors… We may change the fees at any time, and we will notify you if required by law.

    Deposit Agreement, fees section

  4. Closing accounts doesn't stop sharing with affiliates, joint marketers, and (for credit cards) nonaffiliates.

    When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.

    U.S. Consumer Privacy Notice PDF

  5. Online banking signup silently enrolls you in a program feeding your purchase history to merchants/ad networks.

    By enrolling in online and mobile banking, you will be automatically enrolled in the Bank's merchant rewards program… whereby the Bank will share anonymized transaction information with vendors.

    Online Banking Service Agreement §11.F (BankAmeriDeals)

  6. Browsing history, geolocation, and inferred interests shared with third-party advertisers.

    Beginning in April 2025, we have commenced sharing Personal Information collected from our webpages with nonaffiliated, third-party websites and advertisers to provide a personalized marketing experience, commonly known as cross-context behavioral advertising

    CCPA Notice

How these were found

All findings from BofA's own live documents — no mirrors needed.

These notes come from the original draft and are not independent verification.