Busting BoA

BoA to Suffer for Blunders

Social Issues – Shantel Curtis was left stumped by a foreclosure notice she received months after her and her family had moved out of their home. Their lender, Bank of America, alleged that the Curtis’s had owed months worth of mortgage payments-until they realized a $1 technical blunder that had tampered with Curtis’s title transfer. As BofA takes months to reverse the mistake, the family’s credit suffers.

This isn’t BofA’s first rodeo, however, as the bank has been dealing with similar errors within the recent months. Just a few months ago in Massachusetts, the bank foreclosed on a man who had a missed mortgage payment of zero dollars and zero cents. While this mishap is almost laughable, there is an underlying seriousness-credit histories are being destroyed as BofA seems to be in no rush to resolve these issues.

Recently, a man in Texas was issued a foreclosure for a house that had been demolished years ago by Hurricane Ike. The man had even gone the extra mile to make (what he thought were) requisite monthly payments.

BofA’s recent track record isn’t only littered with false foreclosures—the former “largest bank in the country” lost its status in part by announcing plans to charge their customers five bucks just to use debit cards.

Just this week, BofA announced that they would no longer impose the debit card fee only a month after CEO Brian Moynihan spoke with such conviction that his bank had “a right to make a profit.”

The bank’s popularity has taken a sharp plunge recently as recent polls reported that 9% of BofA’s customers said they weren’t likely to keep their business with the bank. Another totally mysterious statistic reported that 15% of BofA’s customers didn’t feel valued. If the bank doesn’t change their tune, they might be soon out of business.

Read more at the Huffington Post.