Has Credit Card Debt Lender Bank Of America – Become Too Big For Their Britches?
Under the 10 year leadership of CEO Kenneth D. Lewis, Bank of America has become one of the largest banks in the USA. They did this purchasing other major financial credit card debt institutions for billions of dollars. The credit card debt companies purchases included The LaSalle Bank for $21 billion in 2007, FleetBoston Financial for $48 billion in 2004, and they paid $35 Billion for MBNA in 2006.
These days Bank of America is a company steady in the news, but the news is mostly negative information of their business dealings with their customers. It is as if they have become a black hole. One such instance was a flag issue in a small town in South Carolina called Gaffney. It concerned a flag being placed in front of a Bank of America banking center.The flag was placed in front of the bank to honor an America soldier killed in combat.
The branch manager removed the flag stating that it was against Bank of America policy to have the flag there even though it was for a falling American soldier. Many local towns’ folk attempted a boycott of Bank of America in the town and hundreds of concern citizens closed their banking accounts with the credit card debt giant in protest.
The manager making the statement of Bank of America rules prohibiting the flag placement in front of the bank was said to be relocated to help ease the tensions in town. And now there are rumors the manager is no longer in good grace with the credit card debt company Bank of America and has a lawyer.
Bank of America under Ken Lewis watch also purchased Merrill brokerage, an investment banking firm and Countrywide, a mortgage business. Together they made the company something akin to the financial supermarket that Citi had become.
The credit card debt company is portrayed in a bad light all over the internet these days. On YouTube there a videos after videos from former employees and customers proclaiming how bad it is to do business with this giant financial institution Bank of America. Have the credit card debt company Bank of America gotten too big for their britches?
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