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Bank of America The Bank of Opportunity to Screw You Over
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Bank of America with its historic roots near the nation’s beginnings in 1784, is according to the Wikipedia ,
“the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
Bank of America is the largest American company (by market capitalization) that is not part of the Dow Jones Industrial Average. On July 19, 2006, Bank of America reported second quarter 2006 net income of $5.48 billion, surpassing that of Citigroup for the first time.”
With it’s eye on the Chinese consumer banking market and the Mexican consumer market, because in a series of serious missteps the banking company has managed to anger, annoy and rip-off so many Americans it must needs find fertile ground in foreign markets; especially now since its nearest competitor in the industry, Citigroup, has backed off from the foreign markets.
This isn’t just talk from a few disgruntled former and current customers or former and current employees. The record will show during the past 4 years Bank of America executives have found themselves looking at the wrong end of lawsuits ranging from human resource issues involving the question of over time–such as who is exempt and who isn’t. They, BOA settled the case for some 22 million USD to learn the hard way that 6,000 personal assistants, who had been classified as administrative exempt upon further investigation revealed they fell within the non-exempt employee category and as such, they were all entitled to back pay of overdue overtime wages; to issues of discriminatory hiring and employment practices, to consumer lawsuits filed in the class action format because of infractions such as releasing private information to unauthorized entities.
Several things can be said about Bank of America. Like most members of the banking industry, since being under the leadership of one Kenneth Lewis, BOA has become more aggressive in getting that money. Are you wondering why it’s never a “bank error” when you catch a mistake on your account? Or why even when it is an error on the part of a BOA employee their mistake is vehemently denied and they’re so very arrogant about the fact they made the mistake–even when you have documentation provided by the bank to prove they did it?
It’s because Kenneth D. Lewis, Chairman, Chief Executive Officer and President, Bank of America Corporation, has offered an annual bonus of $1,860 to employees who hold the line on charges that are predatory, exploitive, and punitive. That’s right consumers Ken has offered a bounty to the bank employees, a pittance really, when one considers how much the bank makes from the profiteering that goes on. The revelation of this fact makes us wonder why certain organizations such as the NAACP endorse Bank of America as being minority consumer friendly, when in fact Bank of America has proved time and time again it is hostile and thuggish in its dealings with consumers of every race, age and gender.
That is why we say, “Bank of America is the bank of opportunity…to screw you over no matter who you are…in employment or banking transaction relations.”
If you are a breathing human who requires banking services and you currently deal with BOA you can be sure you’re gonna get the shaft…the scary part is they’re the leaders in the industry. Let us pray this is not the trend to be widely followed by other banking institutions.
We suggest you cancel your accounts with Bank of America as soon as possible
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