Here’s your fourth “Elite 8″ match-up: #7 Bank of America VS #15 Countrywide Home Loans.
ATTENTION: Bank of America is currently in the process of purchasing Countrywide, but the transaction is not yet complete. For the purposes of this contest we ask that you evaluate their track record with consumers separately. Thank you.
Here’s what a few of you had to say about these two companies:
Bank of America:
“Bank of America tellers gave away $12,000 of my money to a woman with missing teeth and a fake driver’s license in my name. On SEVEN occasions. In places I never go.”
“My girlfriend had a credit card with a bank that was bought out by BOA. Her monthly payments went from $20 a month to $170 despite the fact that she never missed a payment and always paid more then the minimum.”
“BoA is not just “a” bank, they’re a bank with some of the least customer-friendly policies in America. Re-opening closed accounts then charging $35 for it? That’s not a courtesy, that’s fraud.”
“Can u say overdraft? Lets take billions from the poor every year and feel good about it!”
Countrywide:
“Countrywide, because before the subprime crisis I could finance my education, and now I’m posting as a dropout.”
“Countrywide is ultimately what caused the dollar to be worthless. So them, and people like them, wrecked our economy.”
“Countrywide is the subprime mortgage business. Sure, blame is spread widely, but no one company/person/sector so aggressively made it part of their business plan.”
This is a post in our Worst Company In America 2008 series. The companies nominated for this honor were chosen by you, the readers. Keep track of all the goings on at consumerist.com/tag/worst-company-in-america.
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I’d be happier with this poll if we stopped the voting with the 10-20 worst. This pairing reinforces my feelings. Both are incredibly poisonous entities and the thought of either sneaking off with a loss doesn’t seem right.
Oh it’s gotta be Countrywide.
Well the poll is already closed, but I’d vote BofA, especially with how they just left some of their military bank members in the cold.
As much I dislike BOA I will say that they were quite cordial today when I did go in to close my accounts. I was in and out of the bank with a cashiers check in about 20 minutes.
I’ve had Countrywide as my mortgage holder for almost 15 years without a hitch so I can’t complain. As to the mortgage mess, they are only one of the more closely scrutinized mortgagors so everyone hears how bad they are. However, BoA’s
practices, especially with my college age daughters, hit home with their $30.00 overdraft charges on debit cards. Rather than disallow the $10 withdrawal and use of the MAC card, they charge $30 without first informing cutomers that their account has insufficient AVAILABLE funds. This is a joke too because they take sweet time posting deposits to accounts. all to their benefit. Since they can’t make money with mortgages, revolving credit and other traditional revenue sources, they are reverting to nickel and diming the little guy. BoA gets my vote.