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Bank of America Corporation: Losing Public Interest

Andrew, B., High, M., and O’Rourke, J. S. (Editor)
February 2, 2018
SKU:
BUS-004077
Region: 
North America
Topic: 
Strategy & General Management
Length: 
13 pages
Keywords: 
interest rates, former customer, former customer service employee, public sentiment, brand image
Copyrighted by: 
Notre Dame
Student Price: 
$4.00 (€3.73)
Average rating: 
0

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.