We borrowed $200K from BOA and although we always paid our monthly payment at least a full week before it was due, they repeatedly charged us late fees, tried to bump the interest rate up to 25%, and refused to acknowledge that they had received and processed our checks prior to the due dates. We had to get the Nebraska AG's office involved and they got us money back from BOA, the bogus late fees and the higher interest paid. When we sold the business, BOA sent a VP to talk with us about helping us manage the windfall that we had received. He was a nice enough guy, but we showed him the correspondence that we had with BOA and told him that it would be a cold day in hell before we ever banked with BOA again. He said that he wasn't aware of the BS that we went through with BOA and didn't blame us for not wanting to do business with BOA. He didn't help himself when he said that we were only marginally credit worthy for $200K and were lucky to get the loan approved in the first place. I think that the person who approved the loan was probably trying to push us into defaulting on the loan so that BOA could lay claim against the assets. Apparently they teach crap like that in banking school, something like Banking 301, 101 ways to screw your customers.
