BoA has just transferred a huge portion of its derivatives from its investment house Merrill Lynch to its depository institution of Bank of America. Basically these are most likely toxic and this way they can have it affect the FDIC insured bank side instead of the unisured Merrill Lynch side. If you have money with them it should be fine (though it may get tied up for a bit) its just rather shady and given everything else they pulled recently a mark that the end of BoA could be very near.
I only have a credit card with them that I never use because a few years back they decided to change my due date that was always on the 15th to an earlier time of month (with no warning), which caused my auto-payment on the amount due to be late and they refused to remove the late payment charge (despite never being late in several years of having it.) I don't like them at all and wouldn't put it past them to pull something like this.
wow, this and the $5 charge to use their debit card pretty much indicates that they don't want customers lol