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Can Bank of America bounce back?

L.A. Times 2012/12/11 19:35:43
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Customers last year were not pleased with Bank of America and its many fees, giving the institution its lowest satisfaction score since 2000. The score of 66 on a scale of 100 is 3% lower than the bank’s tally in 2010, according to the American Customer Satisfaction Index.

The Charlotte, N.C., company now trails all of its major banking rivals and is the only institution with a grade that’s lower than its pre-recession level. It’s the least popular bank for the fourth year in a row.

bank of america

Read More: http://www.latimes.com/business/money/la-fi-mo-ban...

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Top Opinion

  • Scaldari Anitoba 2012/12/13 22:16:28
    No
    Scaldari Anitoba
    +5
    I hope not. Used to work for them. Most deceitful, crooked and uncaring institution i have ever had the misfortune to work for. dont even get me started on their card services. half of their contract was illegal and unenforceable and they knew it.

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Opinions

  • El Prez 2012/12/15 09:19:44
    No
    El Prez
    Too greedy in their expansion and too poor in their service. Too dumb and too big.
  • Larry 2012/12/15 08:58:32
    Yes
    Larry
    sure they got Obumbles, he'll give em a bunch of our money
  • DeeB 2012/12/15 00:58:05
    No
    DeeB
    +1
    Hope not, they are the scum of the earth.
  • Mishka 2012/12/14 22:23:42
    Yes
    Mishka
    Since the recession their stock has already doubled for me and has been steadily climbing for quite a while. We shall see what happens with it though.
  • RubenRibnik 2012/12/14 17:41:56
    Yes
    RubenRibnik
    +1
    are you kidding??? this is a bank, obummer will bail it out, and then tell his drones to use US Bank and they will follow his word blindly...
  • 001 2012/12/14 17:34:10
    No
    001
    +1
    The only way they could is through a bail-out, so let's hope not.
  • LarryFine 2012/12/14 13:52:33
    No
    LarryFine
    +1
    Not in the customers eyes. But, "Too big to fail" will make us all contribute to their failures for a long time to come.
  • sean 2012/12/14 09:13:40
    No
    sean
    +2
    the money they owe and the rest of the banks are in the ..TRILLIONS..its all BS..the FEDERAL RESERVE BANK..OWNS ALL OF THEM..WHO OWNS THE FED..THE ROTHSCHILDS FAMILY !
  • sherri 2012/12/14 05:23:33
    No
    sherri
    No!!! Hell our government can't bounce back.
  • Larry sherri 2012/12/15 09:01:01
    Larry
    an just think Obumbles wants bigger goverment yet
  • flrdsgns 2012/12/14 03:16:03
    No
    flrdsgns
    +1
    I hope not, they deserve to lose their business, it's been so poorly run for years now.
  • mae 2012/12/14 02:48:51
    No
    mae
    +1
    B of A has been in trouble of one kind or another for years, it may be too late.
  • Boudicea 2012/12/13 23:14:51
    No
    Boudicea
    +1
    As long as the government is pulling their strings there is no friggin way it will ever be profitable again
  • Scaldari Anitoba 2012/12/13 22:16:28
    No
    Scaldari Anitoba
    +5
    I hope not. Used to work for them. Most deceitful, crooked and uncaring institution i have ever had the misfortune to work for. dont even get me started on their card services. half of their contract was illegal and unenforceable and they knew it.
  • Todd Parsons 2012/12/13 21:49:02
    No
    Todd Parsons
    +3
    Unless we do something stupid like bail them out....again
  • Flowers 2012/12/13 20:49:39
    No
    Flowers
    +2
    Let's hope not. They are a TERRIBLE company, and everyone should remove their money from BofA immediately
  • harry 2012/12/13 20:30:47
    No
    harry
    +2
    I hope not. The worst of the worst over 20 Years.
  • yabbadabbadoo 2012/12/13 20:29:36
    No
    yabbadabbadoo
    +1
    hopefully not...
  • SezMichael 2012/12/13 18:46:12
    No
    SezMichael
    +1
    you've pretty much got to talk to banks with your feet. If you won't really leave them they've got reason to care
  • volley15 2012/12/13 18:04:23
  • Judy224 2012/12/13 17:49:32
    No
    Judy224
    +2
    My elderly Aunt has an account at Bank of America. They recently gave her a counterfeit 100 dollar bill. The FBI took it and Bank of America wouldn't make good on it. I felt bad that my Aunt is now out the 100 dollars. BofA now wants to charge her for sending her a statement every month. At 82, she is not looking to buy a computer and print her own statements.
  • t.eliot, topbard 2012/12/13 17:20:00
  • Herbtheman 2012/12/13 17:07:29
    No
    Herbtheman
    +1
    They suck the worst bank I have dealt with.
  • susan 2012/12/13 16:39:16 (edited)
    Yes
    susan
    Probably, with enough taxpayer money funneled in to keep the corruption intact.



    As long as the bankers in all the banks have no ethics, no rules or regulations, and the US Treasury solves their problems for them on the back of middle class businesses they will continue to line their personal pockets and shaft the shareholders as well as their customers.

    Bank of America in St. Louis is one of the corrupt ones that apparently loaned money to "asset-holding" companies, owned in part by another banker in St. Louis, whose group apparently was scamming business property loans by funding only part of the loan guarantee money for those loans, then claiming they were in default, ordering his Big Law foreclosure firm to bankrupt the owners, foreclose, then "sell" the notes to those "asset holding" companies for pennies on the dollar. Outside investors were not allowed to submit offers for the notes. FBI will probably find him guilty of "wire fraud" several years in the future, get a couple of years jail time at a country club prison. Meanwhile, middle class businesses and the 100s of people they had to lay off due to the scams have been ruined and homes foreclosed. Treasury pays off the bank, but no one lower gets a dime.
  • Kelli Freeman 2012/12/13 16:35:35
    No
    Kelli Freeman
    +3
    I hope not... Criminals!!!!! Americans should take advantage of Capitalism by ending services with crooks like BOA... Get them out!!! Bank with a local bank!
  • susan Kelli F... 2012/12/13 16:42:19
    susan
    +1
    Local banks are under the control of these big banks. As long as you're just a little depositor, you can deal with the local without much problem. As soon as you have a mortgage or a car loan, your local bank is no longer in control of it.
  • Kelli F... susan 2012/12/13 16:46:06
    Kelli Freeman
    +2
    =( Well, there must be some type of mortgage or car loan... Ugh, either lots of research to not have to deal with monster banks... or pay flat up for the cars or houses... ??? I know, a lot to save for and may not seem realistic, however... It would be a way to not have to deal with them. I use banks locally and/or internet banking... They have proved great in customer service and dealing with my issues very politely... 5th/3rd Bank had people from their corporation calling me about 6+ times per day, cursing me out, etc... over $20!!!
  • Professor Wizard 2012/12/13 15:53:44 (edited)
    No
    Professor Wizard
    +1
    I haven't used BofA in 20 years... and I will never use them in the future.

    As for everyone else.. some people are just slow to pick up on the fact they are being ripped off! BUT : they eventually catch on!
  • merlinskiss 2012/12/13 15:04:43
    No
    merlinskiss
    +1
    At lease I hope not. Hate that bank with a passion. They need to be broken up or better yet, just plain fail that way no one would likely re-hire their incompetent executives.
  • hazydave 2012/12/13 14:38:55
    No
    hazydave
    +1
    Hope it doesn't. The corporate world needs a good example of what bad service and runaway greed can do to a company. And proof that consumers are not piggy banks.
  • Pistol Pete 2012/12/13 14:29:59 (edited)
    No
    Pistol Pete
    +2
    They are THE greediest of ALL the Big banks.

    I only do business with Regional, Community Banks and Credit Unions.



    But, BofA started the policy of giving auto loans, mortgages and credit cards to ILLEGAL ALIENS, with NO Social Security Number, or fake ones even way back over 10 years ago. So, when Obama and Congress BAILED THEM OUT, that is where your Tax Dollars went to. And, the ILLEGAL ALIENS just re-apply because they are not tracked by their Social Security Number.
    Now, ALL the Big Banks give loans, etc. to ILLEGAL ALIENS. But, the Community Banks and Credit Unions do not.
  • dave b 2012/12/13 13:43:19
    No
    dave b
    +1
    Not unless they get their act together. Yesterday I got a pre-approved CC offer from them and promptly tore it up. People I know who bank with them are leukwarm about them at best, and most dont like 'em much at all.
    Wells Fargo is just as bad.
    I'll stick with my Credit Union.
  • MS239 2012/12/13 11:44:08
    Yes
    MS239
    +1
    I bank at BOA now, and I have had NO bad experiences with them. I was with a "credit union", and I had fees out the ying yang. Since going with BOA, I have had no fees, whatsoever, I was charged a fee wrongfully once, due to my not paying attention to what I was doing, but I called them and they promptly reversed the charge.
  • tredzwater MS239 2012/12/13 18:29:15
    tredzwater
    +1
    I guess I'll have to join your minority because I have no problem with them.

    Of course, I don't do "real" banking anymore. I just have my SS direct deposited and then use my debit card to remove it. Since I do the direct deposit thingy, there are no fees.

    Once, I had a serious "senior moment" and went shopping on the 3rd. I spent quite a lot. The next morning, I got a bunch of overdraft notices, with accompanying fees. The day before had actually been the 2nd. I went into the bank and explained the situation and, after checking my record, they waived every one of the overdraft fees.

    I certainly have no argument with them about that!
  • Pete 2012/12/13 11:19:41
    Yes
    Pete
    +2
    Obama bailed out the banks, including Bank of America before and will probably do it again. My satisfaction with BOA has always been low due to their incompetent, insolent employees and outrageous fees. They couldn't even order checks for me successfully. Their customer relations need major improvement.
  • hazydave Pete 2012/12/13 14:52:02
    hazydave
    Nope, the bank bailout was in 2008. On George Bush's watch. There was supposed to legislation to eliminate any future "too big to fail" bailouts in the Dodd-Frank financial reform bill. However, provisions designed to protect creditors may in practice amount to the same thing.
  • susan hazydave 2012/12/13 16:48:10 (edited)
    susan
    Partially true. The bank bailout was passed in October, 2008, and signed into law by George Bush. Congress left that law very open-ended for the US Treasury to do as it deemed appropriate.
    The rules and regulations, the determinations of who would get TARP funding, were not in place until Tim Geithner was appointed Secretary of the US Treasury in January 2009. Geithner was in charge of the implementation of that funding, and it was he who decided that the housing and construction economy needed to be "cooled" by ordering the banks to call existing loans without cause on real estate and construction projects. The resulting devastation in those sectors of the economy is still hurting the economy. NOW, suddenly, the US Treasury's position is that they have to give more money to the banks to STIMULATE those sectors.
  • RubenRi... hazydave 2012/12/14 17:46:11
    RubenRibnik
    bushs watch, and a full dem congress and senate.... HMMMMM, franks dodd, 2 main reasons of the failure in the first place, all cause of a bill Billy clinton signed in 92 (?) glass steagall..
  • WannaBeRSC the Contrarian SOB 2012/12/13 10:05:21
    No
    WannaBeRSC the Contrarian SOB
    +2
    Ah, another "too big to fail", failure. Let it crash.
  • Tordgaard 2012/12/13 09:54:54
    Yes
    Tordgaard
    +1
    If some of these other major businesses can bounce back, so can Bank of America. It just takes a clever marketing promotion and a short period of time.

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