Bank of America Corporation: Losing Public Interest

Authors
Andrew, B., High, M., and O'Rourke, J. S. (Editor)
Region
North America
Topic
Strategy & General Management
Length
13 pages
Keywords
interest rates
former customer
former customer service employee
public sentiment
brand image
Copyright Holder
Notre Dame
Student Price
$4.00
Target Audience
Graduate Students
Undergraduate Students

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.