Archive for the ‘personal finance’ Category

Fresno Bankruptcy Blog Update: Bank of America CEO Resigns

Saturday, October 3rd, 2009

Fresno Bankruptcy Attorney Update: 

“Good Morning, Bank of America Customer Service, May I Help You?”

Customer Service, May I Help You

Recent news out of Bank of America reveals that it CEO, Ken Lewis. annouced his resignation/retirement to take effect at the end of the year.

Is this a surprising news? Not really when you view the current state of this huge institution’s problems, including the rejection of a mutual settlement of a lawsuit iwth the Securities and Exchange Commission regarding the BILLIONS of dollars given away in year end bonus during the middle of its financial meltdown. 

We recently reported on Bank of America’s grass roots problems with its customers revolting from paying higher interest on credit cards forced upon its customers.

CEO Lewis, 62, has worked for Bank of America and its predeceasors for over 40 years will walk away with over $68 million in retirement and stock.  Since his retirement benefits and stock accured over the course of his employment, I personally don’t have much to say on this Flavor Flav size “gold watch”. other than good exit strategy in your “golden” years.

Jungle Tactics Wins The Day With Bank of America Revolt

Tuesday, September 22nd, 2009

Fresno Bankruptcy Help Update: Bank of America bends to customer’s jungle warfare tactics.

Ann Minch, the California woman who took her fight over a credit card increase to YouTube, apparently has extracted the concession she sought from Bank of America.
In a new video, she said Bank of America had agreed to return the interest rate on her $5,943.34 balance, which had been hiked to 30%, to 12.99%. The bank’s first offer was 16.99%, which she said she rejected.

She said she was contacted by Jeff Crawford, senior vice president of existing credit card accounts, who was polite. He didn’t mention either her video or her “taxpayers’ revolt” — which she says is not over.

Minch’s first video which has circulated widely on the Internet, has been viewed more than 241,000 times.

Watch her video below.