Got a letter from Bank of America (BAC) today that informed me that I am a great customer and also mentioned that B of A will be raising fees and canceling rewards on my credit card. Maybe this is the time to own well-run bank stocks with solid balance sheets. They’ve got incredible pricing power. Though I would not touch B of A – too complex and the CEO is…, works for the government not for shareholders.
Please read the following important disclosure here.