September 10, 2009

Bank of America Corp. (BAC), under pressure to ease account fees and customer policies, said Wednesday it's hired an executive to meet with consumer advocacy groups and deliver their concerns to the bank's leaders.The Charlotte bank said Andrew Plepler, the one-time president of its charitable foundation, will now serve as the bank's Consumer Policy Executive. He will continue to direct the bank's corporate social responsibility efforts.

The announcement marks Bank of America's latest move to head off a growing rage among the public and lawmakers over high account fees at banks as well as elements of other financial products, like credit cards, that some consumer advocates call unfair. Congress has already passed legislation requiring more consumer-friendly policies for credit cards, and some lawmakers are now pushing heavier restrictions for other products like checking accounts.