Before the economy nosedived, Bank of America was the aww-shucks upstart from North Carolina who was quietly making its play to become one of the world’s largest banks. Then things turned bad for mammomth mortgage-lender Countrywide and investment bank biggie Merrill Lynch, and BofA swooped in to save both. [More]
BofA CEO: Cleaning Up Countrywide Mortgage Mess Is Like Climbing Mountain With 250 lbs. On Your Back
Bank of America may have avoided the stain of the Worst Company In America Golden Poo for the second year in a row, but the perennial runner-up still has plenty of haters out there, including some who put together YourBofA.com, a satire site that will probably be taken down any minute now.
Two weeks after asking regulators to investigate Bank of America’s plan to charge some customers a $5 fee to make purchases with their debit cards, our cousins at Consumers Union have taken their case directly to the bank’s CEO.
Bank of America’s CEO Brian Moynihan posted an email to the company’s intranet telling the rank and file to keep their chins up amidst their sinking stock price and news that they would be sued by AIG for selling crap mortgages.
The polls haven’t closed yet, but as of right now Bank of America appears to be heading to the finals in this year’s Worst Company In America tournament. But unlike reigning WCIA champ Comcast, which would rather ask its employees to flood the ballot box than fix the problems, BofA has reportedly started a company-wide initiative to at least pay lip service to the idea of making the company run more smoothly.