Bank of America Corporation: Losing Public Interest

Abstract

Bank of America experienced significant backlash in late 2009 regarding excessively high credit card interest rates and overwhelming late fees. This backlash came in the form of YouTube videos and a “debtors’ revolt” started by a former customer, Ann Minch. Jackie Ramos, a former customer service employee, garnered public sentiment for her plea against Bank of America. Bank of America’s brand image was being tarnished in the public arena and they were forced to develop a comprehensive corporate communication strategy to restore public trust.

This case was prepared for inclusion in Sage Business Cases primarily as a basis for classroom discussion or self-study, and is not meant to illustrate either effective or ineffective management styles. Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educational, or personal use only within your university, and cannot be forwarded outside the university or used for other commercial purposes.

2024 Sage Publications, Inc. All Rights Reserved

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Resources

Figure 1. View history for “DEBTORS REVOLT BEGINS NOW!”

Figure

Source: Rockerchic4God. “DEBTORS REVOLT BEGINS NOW!” YouTube. YouTube, 08 Sept. 2009. Web 27 June 2012. http://www.youtube.com/watch?v=jGC1mCS4OVo (Click on bar graph button directly to the right of the number of views).

Figure 2. View History for “Why Bank of America Fired Me”

Figure

Source: Entriguecharles. “Why Bank Of America Fired Me.” YouTube. YouTube, 25 Nov. 2009. Web 27 June 2012. http://www.youtube.com/watch?v=a5E0WNO7e_Q (Click on bar graph button directly to the right of the number of views).

Figure 3. Representative comments in response to “Why Bank of America Fired Me”

Figure

Source: Entriguecharles. “Why Bank Of America Fired Me.” YouTube. YouTube, 25 Nov. 2009. Web. 01 Mar. 2012. http://www.youtube.com/watch?v=a5E0WNO7e_Q

This case was prepared for inclusion in Sage Business Cases primarily as a basis for classroom discussion or self-study, and is not meant to illustrate either effective or ineffective management styles. Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educational, or personal use only within your university, and cannot be forwarded outside the university or used for other commercial purposes.

2024 Sage Publications, Inc. All Rights Reserved

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