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David Lazarus: Bank scam is a cautionary tale for all consumers [video]

May 24, 2011 | 11:22 am



A far-reaching fraud at Bank of America serves as a cautionary tale for all consumers who entrust virtually their entire financial lives to major companies, consumer columnist David Lazarus says. "We want to believe those companies are worthy of the responsibility bestowed upon them," he says in his column today. But all too often, "the guardians of our personal info prove sloppy or negligent in keeping data secure. And in some cases, their own insiders have a hand in perpetrating fraud."

Watch the video to see what happened at Bank of America.

Read more columns by David Lazarus here.