A Former Bank of America employee reveals how customers were exploited

[Steve]

[bretthexum]

Good video. As much as I agree with her, at the end of the day it's BoA who takes the risk by lending.

[oneforone]

Two things:

1. I think banking industry went south when the mega banks took over. The little guy lost his voice with his bank. Most of the descisions at banks are now made by computer software. The majority of bank branches are like fast food outlets. They have little or no flexibilty when it comes to customer service issues.

2. American Consumers need to stick it to the banking industry by limiting borrowing to necessary items only and pay it off as quickly as possible. The days of living off of credit need to go away.

[mrbob]

Good video . I had countrywide home loan that was sold to Bank of America when countrywide went under. I hate Bank of America. Went on vacation last year and stayed a week longer , came home and Bank of America was calling saying , WHERE IS OUR MONEY. I told that camel jockey to eat me and hung up the phone. I don't like rude folks and I was 5 days late not 30 days , but 5 days. That did it for me for that S.O.B. company I hope they fail again and the government says eat me too.

[HVAC Instructor]

2. American Consumers need to stick it to the banking industry by limiting borrowing to necessary items only and pay it off as quickly as possible. The days of living off of credit need to go away.

Excellent suggestion.

[Midtowner]

DO NOT BUY STUFF YOU CANNOT AFFORD.

See how easy it is not to get into these sorts of pickles?

[gmwise]

Good video . I had countrywide home loan that was sold to Bank of America when countrywide went under. I hate Bank of America. Went on vacation last year and stayed a week longer , came home and Bank of America was calling saying , WHERE IS OUR MONEY. I told that camel jockey to eat me and hung up the phone. I don't like rude folks and I was 5 days late not 30 days , but 5 days. That did it for me for that S.O.B. company I hope they fail again and the government says eat me too.

Actually Countrywide was brought by BOA.

Bank of America to acquire Countrywide - Mortgage Mess- msnbc.com

[HVAC Instructor]

DO NOT BUY STUFF YOU CANNOT AFFORD.

See how easy it is not to get into these sorts of pickles?

And:

If you cannot afford to pay cash for it, you can't afford it.

[Midtowner]

camel jockey

Dropping racial epithets =/= taking the high road.

[Matt]

This right here is reason enough to never ever want to have anything to do with Bank of America:

[mugofbeer]

I wonder where in his head they implanted the microchips? GAAAAK! No one should be that attached to ANY company!

Just another example of why we should all buy local. Use a local bank.

[bretthexum]

Oh my god.

[TaoMaas]

IMHO, BoA is the biggest bunch of con artists ever assembled in one place. There is no fate that could befall them that they wouldn't be justly deserving of receiving.

[mugofbeer]

I finally had the time to listen to the video. I applaud the young lady for taking a stance but, as she fully admits, the firing was justified. What I can say is that Bank of America is far from alone in this type of thinking and this type of "actual" policy. To use this and make a judgement against them only is literally a chip off an iceberg.

My old company, a competitor to B of A, pushes mutual funds, annuities and a managed money product preferably using their own funds. Starting in the middle of last summer, it was quite apparent our economy and the stock market was going to go down precipitously. This occurred, yet my old employer continued to pressure its sales reps to sell their mutual funds, which invested either in the stock or bond markets.

As the markets plunged, my old employer continued to push sales INTO the market and expressed a "stay the course" opinion for its customers. It got to the point where sales people were leaving the company by the dozens because they couldn't morally justify "guiding" people into stock and bond funds when they knew the market was going to continue dropping. THe company didnt change their policies at all and in fact gave poor performance evaluations to those who didn't meet the sales goals that never changed to reflect a plunging economy and market.

Finally, in Feb. I was given an opportunity to let me pay be cut 40% or be part of a layoff. I chose the latter, deciding I also wanted to sleep at night.

The moral to the story is that large, impersonal companies can be spotted by hearing these types of stories. People should avoid doing business with them when possible and use local alternates, if available.

[Bunty]

And:

If you cannot afford to pay cash for it, you can't afford it.

WRONG. Borrowing money was the only way to get my new house built and to buy a 2008 hardly used car from Ebay. It works. The house is paid off with no liens on it, and payments on the car are coming along nicely. So get real.

[gen70]

I could go on and on about how BOA sucks but they don't deserve the press.