According to Bloomberg.com

“Bank of America Corp., seeking to attract new clients, offered free online stock trades to customers with accounts of at least $25,000, sending shares of discount brokers lower.

The second-largest U.S. bank said customers in New York, Boston and other cities in the northeast U.S. will get 30 free trades a month so long as they maintain the minimum balance in any combination of accounts. Such trades usually cost $5 to $10, meaning customers may save as much as $3,600 a year. Bank of America said the program, which is effective immediately, will be extended nationwide over the next few months.”