Source: David Lazarus, L.A.Times ( Free Registration )

Lawmakers and consumer advocates have heaped accolades on Bank of America for its announcement that it will stop hitting customers with $35 overdraft fees any time they don’t have enough cash to cover a debit-card purchase.  Rep. Carolyn Maloney (D-N.Y.), who has spearheaded efforts in Congress to crack down on abusive bank practices, was typical of those showering BofA with love. She declared, “Let me now praise Bank of America!”

It’s understandable that folks who regularly criticize banks would want to hand out milk and cookies when they see something beneficial for consumers. But it seems pretty pathetic to sing a company’s praises just because it’s decided to stop mistreating customers.

I mean, is that how miserable things have gotten, that we honor businesses just for doing the right thing? That we reward them for saying they’ll quit doing something they never should have done in the first place?

Read Full Article: Don’t praise BofA for not mistreating customers