Bank of America gave up billions in annual revenue by phasing out certain fees and risky banking products.
There should be other routes to the middle class, former Labor Secretary Robert Reich told CNBC.
The median income for people in the United States remained about flat at $51,900 in 2013.
Layaway could be "disastrous" for the financially irresponsible, Today.com reports.
Get the best of CNBC in your inbox