Bank of America Corporation: Losing Public Interest
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.