- 1 why is bank of america bad
- 22.214.171.124 Bank of America Campus Recruiting Culture Overview
- 126.96.36.199 8 Difference Between Wells Fargo And Bank Of America
- 188.8.131.52 Why Do I Have A Monthly Maintenance Fee Bank Of America?
- 184.108.40.206 Bank of America Interview - Teller
- 220.127.116.11 Is Bank of America a good stock deal?
- 18.104.22.168 Here Are a Few Facts About One of America's Biggest Banks: Bank of America
- 22.214.171.124 Diversity & Inclusion at Bank of America
- 126.96.36.199 Have a Bank of America card you don't use? Here's how to turn it into $120 a year
- 188.8.131.52 Bank of America CEO: When the U.S. is going well it's good for us
- 184.108.40.206 Why Bank Of America Fired Me Part 1
- 220.127.116.11 Why Do I Have A Monthly Maintenance Fee Bank Of America?
- 18.104.22.168 Bank of America Consumer MBA Associate
- 22.214.171.124 Bank of America CEO on how technology is transforming banking
- 126.96.36.199 Why Bank of America Looks Cheap, and Bank of Internet Doesn't | MarketFoolery Podcast - 12/17/13
- 188.8.131.52 Why I bought Bank of America shares this week
- 184.108.40.206 Bank of America Merrill Lynch Human Resources Assistant Vice President
- 220.127.116.11 Bank of America How do I build credit from scratch
- 2 Why Bank of America is awesome for building credit
- 3 Bank Of America Tops In Consumer Complaints, Angling To Finally Win Worst Company Award
- 4 Opinion: Here’s why it’s time to bank on Bank of America shares
- 5 Why is a strong US dollar bad? Here's how it can hurt your bank account.
why is bank of america bad
Bank of America: Bank of Opportunity. opportunities for them to take all of your money. Watch. Sin. Enjoy. What sinful topic would you like to see covered next?.
Bank of America Campus Recruiting Culture Overview
Learn more about Bank of America's Company Culture through the testimonials of our employees..
Is Bank of America a Good Buy? http://www.tradethemarkets.com/freevideos At the current levels Back of America is a good buy with a target of $9-10. Of course .
8 Difference Between Wells Fargo And Bank Of America
1. Monthly fees For Basic checking accounts: Wells Fargo: $10; waived with an average balance of $1500, $500 in direct deposits or 10 debit card purchases .
Why Do I Have A Monthly Maintenance Fee Bank Of America?
Why do i have a monthly maintenance fee bank of america slay new checking account fees janpossible fraudulent switch to b a's advantage. For example, bank .
Bank of America Interview - Teller
We speak with a former Bank of America teller about working at Bank of America and interviewing for a job with the retail banking chain. More information: .
Is Bank of America a good stock deal?
Here Are a Few Facts About One of America's Biggest Banks: Bank of America
Bank of America is one of the nation's largest banks and has deep roots in American history. The bank provided financing for the Golden Gate Bridge in .
Diversity & Inclusion at Bank of America
At Bank of America, we value our differences -- in thought, style, sexual orientation, gender identity, culture, ethnicity and experience -- understanding that .
Have a Bank of America card you don't use? Here's how to turn it into $120 a year
Need an incentive to pay off your card every month? The Bank of America Better Balance Reward card pays you $25 per quarter when you pay more than the .
Bank of America CEO: When the U.S. is going well it's good for us
Bank of America CEO Brian Moynihan on the bank's outlook, the outlook for small and mid-sized businesses, efforts to reduce the bank's costs, dividends and .
Why Bank Of America Fired Me Part 1
Thumb up if you think this vid should stay public. "Why Bank of America Fired Me" Support this channel! "Stop Corporate Greed!" http://tinyurl.com/7ox2s5u..
Why Do I Have A Monthly Maintenance Fee Bank Of America?
50 29 sep 2011 new york (cnnmoney) get ready for a new wave of bank fees. Jan 2011 bank of america currently charges an $8. 27 jul 2010 when bank of .
Bank of America Consumer MBA Associate
Jerry Decembre talks about his experience in the Consumer MBA Program with Bank of America..
Bank of America CEO on how technology is transforming banking
Bank of America CEO Brian Moynihan on President Trump's plans to rollback regulations, investing in the bank's growth, a potential reduction in the corporate .
Why Bank of America Looks Cheap, and Bank of Internet Doesn't | MarketFoolery Podcast - 12/17/13
Investing made simple: The Motley Fool's essential guide to investing is now available to the public, free of cost, at http://bit.ly/1atRpHZ. This resource was .
The banks as a group have shown relative strength all year versus the broader stock market and continue to be supported by a slowly rising interest rate .
Bank of America Merrill Lynch Human Resources Assistant Vice President
Kaity Cheng talks about her experience within Human Resources at Bank of America..
Bank of America How do I build credit from scratch
We all want to have good credit, even though it's not always clear how to get there; especially when you're just getting started. But with some solid first steps ..
Why Bank of America is awesome for building credit
I have previously covered my experience with Bank of America (or BofA for short).
BofA is the issuer of my first credit card: I opened a secured card with them in early January, 2012; this card graduated into a regular credit card a little over a month ago. This is one of the best secured credit cards in the market, a point I explained in the linked thread.
Bank of America also manages my primary checking account. Upon moving to Seattle from Colgate in summer 2011, I opened my BofA account, and set up direct deposits into the account when I started my job. So I’ve been their client for a year and a half now.
And Bank of America is now also my favorite bank! I’m always careful to say things like this, but time and time again, BofA has proved a reliable and customer-centered bank to me.
Bank of America ATM’s which allow check deposits
I’ve had experience with 4 personal bankers at BofA: one at the Blue Ridge branch whom I’ve never had a chance to see the second time, one at the ridiculously crowded 4th & Pike branch, and two at the less-visited, well-hidden Safeco Plaza branch. Since I work downtown, I can only realistically see the latter 3 people.
The first person, from Poughkeepsie, New York, helped me obtain a secured credit card. Since his office is so busy that you actually have to make reservations to meet with the bankers there, even though I would certainly enjoy a conversation with this cheerful and kind man, I didn’t want to return. Especially after I found a hidden gem, another Bank of America branch right in downtown Seattle that rarely has visitors. It was there that I met two very helpful personal bankers who also happen to be the branch manager and assistant manager.
For someone so new to dealing with financial matters, having personal guidance and assistance was extremely important. These two personal bankers have been at BofA for so long that they know almost everything about personal banking accounts, and a lot about credit in general.
It was from their advice that I applied for my first BofA regular credit card while waiting for my secured card to graduate. When my application was initially turned down, the manager connected me with the credit department which made it very easy for me to get them to manually approve my application. When I inquired about credit card sign-up bonuses, they contacted the credit department and got back to me. They have also helped me with a million other things. As a customer, I’m satisfied with the quality of their customer service.
2 days ago, I posted on my facebook page that the limit with my previously secured credit card had been raised from $2,000 to $12,000. A six-fold increase is impressive. A $10,000 increase is impressive. But what’s more impressive, they more than doubled the total credit limit on my entire credit card portfolio! This is probably never going to happen again.
2 days prior, I had actually requested a credit limit increase through my online BofA account. My request limit was $10,100. Normally a credit limit increase request would result in a credit inquiry, a small damage to the credit profile. Because of this, I wanted to push as far as I could. I expected to be turned down and counter-offered with a lower limit increase, but I’d have to start high to have more negotiating power. I totally did not foresee them giving more limit increase than I requested! They must find me reliable enough as a credit card user to extend this much credit to me. This event suggests that I have been doing a good job at managing credit and am on the right track to build a strong credit profile.
I’d like to think that I did a good job at building a banking relationship with BofA as well. Start with direct deposits, and try to maintain a good amount of managed assets with them. Then get to know a personal banker who understands your personal situation. As you start your financial journey, I think it is important to keep these points in mind.
I have had great success with my banking relationship with BofA – I think they are top notch and will probably expand my business with them in the future. I’ve had worse experience with Chase, and terrible experience with US Bank, but your experience may be different if you do business with different branches. It has a lot to do with whom you know.
BofA helped me build great credit thanks to useful credit cards, generosity with credit limits, and top-notch personal bankers who helped me apply for and manage credit. If you’re in Seattle, especially if you work downtown, I strongly recommend Bank of America.
Bank Of America Tops In Consumer Complaints, Angling To Finally Win Worst Company Award
This looks like it could finally be Bank of America's year.
The No. 2 U.S. bank by assets has for the past four years finished in the top three of Consumerist's annual reader poll to nominate the Worst Companies In America -- but has never taken home the big prize, known as the Golden Poo. However, BofA looks like a strong contender in 2013, having already crushed the competition to see who could rack up the most consumer complaints to the Consumer Financial Protection Bureau.
Consumers have lodged 20,512 complaints (and counting) against Bank of America to the CFPB since December 2011, according to a review of the CFPB's complaint database. As the Wall Street Journal first reported on Thursday, that is easily the worst track record of any bank, making up nearly a quarter of all complaints to the consumer-protection agency. BofA handily trumped runner-up Wells Fargo, which had more than 12,000 complaints against it, or about 14 percent of the total. JPMorgan Chase, the biggest U.S. bank by assets, had less than 10,000 complaints against it.
The CFPB consumer complaints don't factor into the Consumerist Worst Companies contest. That contest is based entirely on reader polls, and the contestants are nominated by readers. But if you're beating the field in consumer complaints, it stands to reason you've got a good shot at winning a Golden Poo.
Most of the formal complaints against BofA have to do with how it services its mortgages, a business it has been desperately trying to shed since its unfortunate purchase of Countrywide Financial during the crisis. Fun Fact: Countrywide was Consumerist's Worst Company In America in 2008, just before BofA bought it!
A spokesman for BofA told the WSJ that most of the complaints against the bank have been resolved and that it has "been intensely focused on improving the process for our mortgage servicing customers." The bank did not immediately respond to a Huffington Post request for comment.
Has that focus been intense enough to mean BofA will lose out on Consumerist's Golden Poo? Not so far. BofA trounced JPMorgan in Round of 16 in Consumerist's Worst Company bracket, taking 73 percent of the vote in a wildly unscientific online poll. That means BofA is now the only representative of the Financial Services Conference remaining in the tourney.
BofA could yet go all the way. But there are tough contestants ahead, including last year's winner, Electronic Arts, whose latest version of Sim City spectacularly pooped the bed; and Carnival Cruise Lines, which forced its customers to poop in bags. They're practically begging for a Golden Poo, those two!
Bank of America might be better off trying a different approach, an approach that does not involve winning dubious awards like Golden Poos. To that end (and to BofA's credit), the bank has been trimming down aggressively. Still, as the WSJ notes, the bank's chronic struggles with customer service suggest it hasn't reached its optimal fighting shape just yet. It may still be too big to succeed.
And yet CEO Brian Moynihan apparently doesn't see the bank ever getting too small. In an interview earlier this week with Charlie Rose, Moynihan suggested that Bank of America is super-sized because America is super-sized, gosh darn it!
"Why are U.S. banks big?" he said. "Because our economy is the biggest and most successful in the world."
Just ask the customers. Or don't! Please don't ask them.
Published: June 10, 2016 8:13 a.m. ET
Everybody’s favorite bank to hate is a stock you can love
The S&P 500 is up about 3% since Memorial Day weekend, but mega-cap financial stocks have taken a hit.
A disappointing May jobs report and what will inevitably be inaction from the Federal Reserve have dented shares of Citigroup Inc. C, +1.28% , JPMorgan Chase & Co. JPM, +1.45% Wells Fargo & Co. WFC, +0.37% and Bank of America Corp. BAC, +0.90% Moreover, shares of these financial-services giants are in the red since Jan. 1, despite gains for the S&P 500 SPX, +0.27% .
And longer-term, all four have underperformed the U.S. market since summer 2013.
The deeper case for bearishness on the banks is pretty straightforward. First, as cyclical investments, banks are experiencing headwinds as the U.S. recovery loses steam and the global economy stagnates. Second, in an environment of perpetual near-zero interest rates, margins remain under pressure and will remain so for the foreseeable future. Third, higher regulatory burdens, coupled with disruption in both traditional money management and consumer banking, have created structural challenges that are only getting worse.
These are all real concerns, and it’s hard to argue that any of these headwinds are going to ease any time soon. But there’s something to be said for taking the other side of the trade at a time like this. For example, Brazil is mired in recession and government corruption, yet iShares MSCI Brazil Capped ETF EWZ, +2.11% is up more than 60% from its January lows and showing no signs of slowing.
If you’re an aggressive trader, it’s worth looking past the obvious narrative to the opportunity in bank stocks — particularly in everyone’s favorite bank to hate: Bank of America.
Bank of America regularly lags in customer service rankings. And it’s tough to think of this company without remembering the horror show of Countrywide and a $45 billion bailout.
But separate your emotion as a consumer and as a taxpayer, and think about BofA objectively as an investor.
Let’s start with the simple value proposition that Bank of America currently trades for around 75% of book value. That’s a massive discount and surely takes some of the aforementioned risks into account.
Also, rising oil prices recently have taken some of the pain away for financial companies that have loaned money to cash-strapped energy companies, or themselves hold significant oil-related debt in their investment units. In fact, lately, traders haven’t been able to get enough of the same energy junk bonds they left for dead at the end of 2015 — hinting that the worst of default risks are behind us. This suggests that bearishness over junk-bond “contagion” is overblown.
BofA’s earnings and revenue are projected to be flat in 2015 after a lackluster report in April, but estimates for the short-term point to mid-single-digit top-line growth and 10% to 15% growth in earnings. Continued cost-cutting and efficiencies are adding up, and CEO Brian Moynihan continues to talk tough about controlling expenses and streamlining operations.
And while dividend investors continue to knock Bank of America for its paltry 1.4% dividend yield compared with around 3% at both Wells Fargo and J.P. Morgan, there are reasons to hope regulators will sign off on increased payouts in the next year or so. A healthier balance sheet and cash flow are encouraging, and BofA passed its “stress test” at the end of 2015 — an encouraging sign as it faces another round of tests at the end of June. Keep in mind the current five-cent quarterly payment is less than 15% of earnings, so there is a lot of future payout potential. A dividend hike could be a huge upward catalyst for the stock.
Perhaps most interesting of all, while Bank of America did see a miss in its April earnings due to trading shortfalls, the details actually showed strong loan growth . Specifically, overall loans at BofA were up 3%, driven by a 13% increase in commercial loans despite what was undoubtedly a pretty weak first-quarter overall for the global economy. That bodes well, particularly if costs continue to decline.
Of course, rates and the yield curve matter. Nor will the U.S. see a massive resurgence in jobs and economic activity that will be a rising tide for the financial sector. But the price on BofA stock is right after all this negativity, and the potential for a big dividend hike seems powerful. Furthermore, the trading weakness of last quarter could just be a blip on the radar given the market’s recent resiliency.
BofA stock is a risky trade, sure, but what isn’t these days? Frankly, it’s more likely that this battered pick will surprise investors in the next 12 months than we’ll see a continued rally for overpriced junior gold miners and small-cap oil stocks. But to each his own.
Why is a strong US dollar bad? Here's how it can hurt your bank account.
One of the great debates among economists is just how strong the United States dollar "should9quot; be.
First some quick background: Generally, "a strong dollar" refers to the value of United States currency relative to other currencies. In other words, it's how many pounds or pesos or euros you can get for a buck at the exchange.
Now, the prices of all these currencies are always moving up and down based on supply and demand : Theoretically, if the United States printed more dollars and the economy didn't grow, then the value of the dollars would go down.
The easiest way to understand the upsides of a strong dollar?
Think about how far your money goes when you're on vacation in another country: When your currency is strong, journeying abroad is a lot more fun, because buying goods and services in other countries is a whole lot cheaper.
"If you're traveling, it's a great opportunity to make your money stretch further," certified financial planner Michael Kay told Mic in a previous story.
That's pretty obvious.
But there is a catch, because a strong U.S. currency can also hurt American businesses — and thus the workers that rely on those companies for work.
If the dollar gets too strong, then the products exported by U.S. companies can become too expensive and unaffordable for people in other countries .
In a globalized economy — where lots of businesses rely on selling to consumers abroad — lower demand overseas can lead to fewer jobs at home.
That is why some argue that an excessively strong dollar can be a major threat to both domestic and global economies, because high-value U.S. currency can be particularly hard on emerging markets like India — the " the main source of dynamism ," in a the global economy, as the American Enterprise Institute's Desmond Lachman puts it.
In other words, proponents of keeping the dollar from getting too strong argue that if fewer Indians or South Americans can come up with the dollars to buy American-made medical equipment , cars and soybeans , it'll start to hurt people in the U.S. who work for those kinds of companies.
Then there's your retirement portfolio to think about.
Even if you don't work for a multinational company, a lot of those blue chip American businesses are likely to be in your 401(k) or IRA — think Coca Cola or McDonalds — and they rely heavily on selling their products overseas.
An overly strong dollar could hurt their bottom line — and thus yours.
The fact of the matter is that a strong dollar is a bit of a mixed bag; it comes with upsides and downsides.
That's one of the reasons why the Federal Reserve exists — to make the necessary tweaks to interest rates so that the value of currency is at the optimum level for American workers and consumers alike.
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