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Bank of America has been involved in several controversies and received a wide variety of public criticism. This page details some of the more notable and public issues.
Criticism of policies
Account closures without warning
When opening a deposit account at Bank of America, the customer signs a signature card which also acts as an agreement between the customer and Bank of America. The signature card states "the written information we give you is part of this agreement and tells you the current terms of our deposit accounts" and that the agreement can be changed at any time. Bank of America Deposit Agreement Bank of America's policy is to provide the customer with the Deposit Agreement when the account is opened, as well as addenda to the Deposit Agreement in statement inserts. However, if an employee fails to provide the Deposit Agreement, or if the customer fails to read it, a new customer may enter into a contractual agreement with Bank of America without knowing its terms, which includes the right of Bank of America to close a customer's account without warning. Some have criticized this process, as there is no verification that the bank makes full disclosure of this information, or that the customer received the information.
In 2000, a California customer was awarded just over $227,000 in damages following a suit against the now-defunct BankAmerica (that is, the California corporation that existed prior to the Nations Bank merger that created the modern day Bank of America). The case turned on an event where the bank closed the customer's accounts without advanced warning and returned several checks marked "insufficient funds" or "account closed." The jury concluded that although Bank of America had the
right to close the account (as the customer in question had unclean hands), it had "breached the covenant of good faith and fair dealing" by doing so without warning and then by leading the check recipients to believe the customer had written bad checks, when in fact it was Bank of America's conduct that prevented the checks from clearing. California Court of Appeal Decision
Excessive overdraft fees
In 1999, a class action lawsuit was filed against Bank of America for engaging in the practice of
Overdraft#Costs cheque. Put simply, the bank clears checks and ATM/debit card transactions in order from biggest to smallest, with less regard to what time they come in during that business day. The lawsuit claimed that this is done on purpose: Bank of America uses
Overdraft#Costs to manipulate the order of transactions to artificially trigger more overdraft fees to collect. However, the "Biggest Check First" policy by itself is not unique to Bank of America, and is common among other large U.S. banks, such as JP Morgan Chase, Citibank, American Savings Bank and Wachovia. Some banks argue that this practice is intended to benefit customers by ensuring that the most important checks, such as mortgage payments, are paid. (Citation needed)
It was this policy, in conjunction with the other practices listed above, that prompted the lawsuit. BofA paid a $9M settlement and the lawsuit was dismissed without an admission of fault; BofA continues to process transactions from highest to lowest amounts.{{cite news | title = NationsBank settles suit
| publisher = CNN Money
| date = 1999-11-10
| url = http://money.cnn.com/1999/11/10/banking/brm_checking/
| accessdate = -->
MBNA purchase
Bank of America incorporated MBNA's credit card management process as their own as part of the purchase of MBNA in 2006. They also appointed former MBNA CEO Bruce Hammond as president of Bank of America Card Services. Critics, including Martin Bosworth of ConsumerAffairs.com claim MBNofA: Bank of America Adopts MBNA's Tactics that the introduction of Bank of America branded MBNA cards has led to Bank of America engaging in the same deceptive business practices that MBNA was also alleged to. Testimony of Consumer Action before the Senate Committee on Banking, Housing, and Urban Affairs
MBNA was also one of the companies mentioned on a 2004
Frontline (TV series) PBS special about allegedly malicious business practices by credit card companies. PBS Frontline - Secret History of the Credit Card Reported practices included changing aspects of the contract without the consent of the customer, doubling or tripling fees and interest rates, changing billing due dates monthly, and invoking
universal default on first offenders whose payments were a single day late. For further information and links, see
Credit Cards.
Online bill pay
If a customer has a bill payment scheduled, but funds aren't available on the day that payment is due to be debited, the bank will attempt to make the payment regardless, and may repeat the attempt up to 3 times in subsequent days if the item is unpaid on the first attempt. This differs from the policy of
FleetBoston wherein funds would not be transferred unless a sufficient balance was available, and no fees were charged if the payment wasn't sent.
The criticism has arisen because if this situation arises and the customer does not have sufficient funds in their account, the bank will charge up to $35 per attempted payment. If customers do not deposit funds into their account before subsequent attempts, they may receive multiple fees.
In February 2006 Bank of America changed their online bill pay policy to send customers' automated bill payments without debiting the payments from their account until the day after they are processed by the payees' bank. This differs from most online banking customers' previous experience with having the funds immediately debited from their account, making online bill pay more in line with mailing out a paper check. Funds are deducted from a customer's account when the payee processes the payment rather than on the day the payment is sent out. This ensures funds are available longer to the customer and not tied up "in limbo" while waiting for processing to occur, but may result in an overdraft situation if the customer trusts the available balance reported by the bank and spends the already-allocated money.
Changes to Interest Maximizer account terms
Ten years ago, the Interest Maximizer account was one of two money market accounts that Bank of America offered.Bank of America, "FACTS About Personal Deposit Account Programs", Disclosure and Agreement, Effective January 1997, page 19, "We offer two money market accounts -- the Cash Maximizer account and the Interest Maximizer account."Banc of America Investment Services, Inc. Relationship Definitions, Bank of America Prima Account -- " A second Prima checking account and an Interest Maximizer money market savings accounts also feature no monthly maintenance fees." Account holders were guaranteed to get the highest money market rate allowed.Transportation Research Board, "TCRP Web Document 8: Marketing Transit Services to Business", Chapter 7 - Bank of America Base Study, 1998, page 147, The National Academies Press, "This chapter provides an overview of the marketing activities of Bank of America (BofA), a $250 billion dollar asset bank with headquarters in San Francisco, California. BofA was extremely generous in providing general information about its marketing approach to small businesses and its relationship marketing strategies for medium-sized businesses. In addition, the Bank provided great detail on the marketing of the Alpha/Prima consumer product, which illustrates the way that BofA undertakes a product launch, whether for business or for consumers." and "Interest Maximizer (for highest money market deposit yields with FDIC safety)" More recently, Bank of America changed this account to a simple savings accountBank of America, "Personal Schedule of Fees", page 5, "Interest Maximizer Account" savings account without notifying the Prima account holders.Bank of America, Your Bank of America Prima Account Statements - January 2006 to August 2007 Starting at the end of 2006, Bank of America slowly began lowering the interest rates for this account without any special notice to the account holders.Bank of America, Your Bank of America Prima Account Statements - January to August 2007 In July 2007, the interest rate on the over $25,000 tier dropped below 1%.Bank of America, Customer Deposit Interest Rates & Annual Percentage Yields", effective August 21, 2007
Public controversy
Race discrimination charges
On May 17, 2007, five black current and former employees of Bank of America filed a lawsuit with the U.S. District Court in Boston, Massachusetts, contending that Bank of America engaged in discriminatory practices towards its employees. The lawsuit claims Bank of America discriminates in regards to its pay, promotions, training, and support services towards its African-American employees.
Secured credit card program
In February 2007, Bank of America expanded a pilot program from 5 to 51 banking centers in Los Angeles. The pilot program is designed to help people with no credit or poor credit establish a credit history. BOA began marketing their secured credit cards, a pre-existing credit product, as a method of doing this. The controversy stems from the bank policy used to verify the identity of customers. Instead of requiring a
Social Security Number, Bank of America accepts applications with a Taxpayer Identification Number, along with two other forms of ID (driver's license, consular ID, passport, etc.) This method of ID verification has been in place since the October 26,
2001 introduction of the
USA Patriot Act and is utilized by some banks for new accounts of any type. The acceptance of the Matricula Consular, an ID issued by the Mexican government through its consular office, exists as a major point of this controversy. The Patriot Act neither endorses nor prohibits the use of any consular identification in this fashion. However Congress, when given a previous opportunity to address it on
September 14 2004, voted down a motion to prevent financial institutions from accepting consular IDs. Anti-matrícula proposal defeated New legislation has been submitted recently, however, to address the issue. Tom Price Congressional Office
Critics (
Lou Dobbs being the one cited in this article) claim that Bank of America's policy specifically targets immigrants who reside in America illegally. CNN - Lou Dobbs Transcript Additionally, Fox News commentator
Neil Cavuto and Colorado Congressman and 2008 Presidential Candidate
Tom Tancredo have argued that the policy could be used by terrorists. Representative Tom Price (US politician) (GA-06-R) has announced that the Committee on Financial Services will be convening hearings on the methods permitted by the FDIC and Treasury policies applying to verification of the identity of potential customers. Tom Price Congressional Office Bank of America's Terror Loophole Tancredo Says Banks Dangerous New Policy Could Facilitate Money for Would-Be Terrorists Fox News - Report: Bank of America's New Credit Card Targets Illegal Immigrants
BofA's Ken Lewis (executive) has stated that it would be unfair and discriminatory to turn away anyone with the legally acceptable forms of identification regardless of how controversial the practice.
Matthew Shinnick's arrest
In December 2005, a San Francisco man named Matthew Shinnick was mistakenly arrested at a Bank of America branch when he attempted to negotiate a fraudulent check he received from a buyer responding to a
Craigslist ad. After Bank of America declined to pay Mr. Shinnick's legal fees, reported to be $14,000, consumer advocate and radio personality
Clark Howard publicized the case on the air.
Missing computer tapes
According to an MSNBC.com story in March 2005, Bank of America lost computer tapes containing information on as many as 1.2 million federal employees, including Senator
Patrick Leahy, D-Vt. and other members of the U.S. Senate. Sen. Charles Schumer, D-NY, reported being told that the tapes had likely been stolen from a commercial aircraft by baggage handlers. The tapes contain data including Social Security numbers and account information. The bank issued an apology. A spokesman for the bank said it would be "virtually impossible" for anyone who found the tapes to access the data. Bank of America loses customer data
Offsetting Social Security benefits
In 2004, a California jury decided that Bank of America had acted illegally with regards to the
Social Security (United States) benefits of a million customers. The jury awarded damages that could exceed $1 billion. Bank of America had been accused of withholding customers' direct deposit social security benefit payments to cover debts in cases where a debt is owed to the bank by the customer (e.g.: due to an overdrawn account, various service fees, etc.). A prior case (Kruger vs
Wells Fargo Bank) established that a bank could not offset a customer's government benefits to collect against a delinquent but separate credit card. In Miller v. Bank of America, the plaintiff argued that the same
precedent should prohibit the bank from collecting the balance of an overdrawn deposit account. The trial court's decision and the jury award was overturned on appeal. Paul Miller v. Bank of America
Online banking security
SiteKey
Announced in May 2006, SiteKey, provided by
Passmark Security, is an additional
login step added to the Bank of America online banking website. If the Bank of America system recognizes the user's computer it displays a small image and a text token previously selected by the user. If the user does not recognize the image the user is instructed to not log in and call a phone number for "Electronic Banking Services." If the Bank of America system does not recognize the user's computer the user is asked one of three security questions that had previously been selected and answered by the user. The bank claims this as an added security measure to help reduce the likelihood of
phishing attacks by allowing users to easily verify the authenticity of the server to which they are connected. This feature is vulnerable to a
man-in-the-middle attack, and human tests have shown that the absence of a SiteKey image is ignored. However, it is no less secure than the simple username-password requests most banking sites use.
Though SiteKey will by no means render Bank of America customers immune to phishing attacks, it demands a two-way exchange of Authentication information: The Web server presents the user its
credentials (your chosen image and text) as a means of proving they really are the bank. Only after seeing the image they have chosen, the bank instructs its users, should they, in turn, present their credentials (User (computing) and
Personal identification number).
While the two-way authentication is currently an uncommon function among the consumer banking industry, the recognition of the user's computer, or more accurately, their browser, is still done in the normal way using HTTP Cookie. Additionally, an
Adobe Flash Local Shared Object is added to the user's computer that stores identifying details of customers, such as log-ins, in a way that is said to prevent most customers from finding or deleting them.
Website redirection weakness
In April 2005, Bank of America was the target of a
phishing scheme that exploited a flaw in the online banking website. Normally, a phishing link that accesses an illegitimate website can be detected by carefully reading the Uniform Resource Locator in the web browser. One URL for the Bank of America website allowed a second URL to be passed to the Bank of America website for redirection. This allowed the phishing link to access an illegitimate website through the Bank of America website and thereby display a "real" Bank of America URL while accessing the illegitimate site. Bank Of America- 'Online Banking Alert (Change of Email Address)'
Parmalat Bankruptcy
In late December 2003, the Italian dairy and food corporation Parmalat SpA declared bankruptcy. This followed a claim in September of that year that the company held nearly $5B in assets with Bank of America in New York. The bank denied the existence of such an account and an ongoing legal battle ensued over accountability for Parmalat's insolvency. Parmalat Bankruptcy Timeline lists the events chronologically.
References
Bank of America has been involved in several controversies and received a wide variety of public criticism. This page details some of the more notable and public issues.
Criticism of policies
Account closures without warning
When opening a deposit account at Bank of America, the customer signs a signature card which also acts as an agreement between the customer and Bank of America. The signature card states "the written information we give you is part of this agreement and tells you the current terms of our deposit accounts" and that the agreement can be changed at any time. Bank of America Deposit Agreement Bank of America's policy is to provide the customer with the Deposit Agreement when the account is opened, as well as addenda to the Deposit Agreement in statement inserts. However, if an employee fails to provide the Deposit Agreement, or if the customer fails to read it, a new customer may enter into a contractual agreement with Bank of America without knowing its terms, which includes the right of Bank of America to close a customer's account without warning. Some have criticized this process, as there is no verification that the bank makes full disclosure of this information, or that the customer received the information.
In 2000, a California customer was awarded just over $227,000 in damages following a suit against the now-defunct BankAmerica (that is, the California corporation that existed prior to the Nations Bank merger that created the modern day Bank of America). The case turned on an event where the bank closed the customer's accounts without advanced warning and returned several checks marked "insufficient funds" or "account closed." The jury concluded that although Bank of America had the
right to close the account (as the customer in question had unclean hands), it had "breached the covenant of good faith and fair dealing" by doing so without warning and then by leading the check recipients to believe the customer had written bad checks, when in fact it was Bank of America's conduct that prevented the checks from clearing. California Court of Appeal Decision
Excessive overdraft fees
In 1999, a class action lawsuit was filed against Bank of America for engaging in the practice of
Overdraft#Costs cheque. Put simply, the bank clears checks and ATM/debit card transactions in order from biggest to smallest, with less regard to what time they come in during that business day. The lawsuit claimed that this is done on purpose: Bank of America uses
Overdraft#Costs to manipulate the order of transactions to artificially trigger more overdraft fees to collect. However, the "Biggest Check First" policy by itself is not unique to Bank of America, and is common among other large U.S. banks, such as JP Morgan Chase,
Citibank,
American Savings Bank and
Wachovia. Some banks argue that this practice is intended to benefit customers by ensuring that the most important checks, such as mortgage payments, are paid. (Citation needed)
It was this policy, in conjunction with the other practices listed above, that prompted the lawsuit. BofA paid a $9M settlement and the lawsuit was dismissed without an admission of fault; BofA continues to process transactions from highest to lowest amounts.{{cite news | title = NationsBank settles suit
| publisher = CNN Money
| date = 1999-11-10
| url = http://money.cnn.com/1999/11/10/banking/brm_checking/
| accessdate = -->
MBNA purchase
Bank of America incorporated MBNA's credit card management process as their own as part of the purchase of MBNA in 2006. They also appointed former MBNA CEO Bruce Hammond as president of Bank of America Card Services. Critics, including Martin Bosworth of
ConsumerAffairs.com claim MBNofA: Bank of America Adopts MBNA's Tactics that the introduction of Bank of America branded MBNA cards has led to Bank of America engaging in the same deceptive business practices that MBNA was also alleged to. Testimony of Consumer Action before the Senate Committee on Banking, Housing, and Urban Affairs
MBNA was also one of the companies mentioned on a 2004 Frontline (TV series)
PBS special about allegedly malicious business practices by credit card companies. PBS Frontline - Secret History of the Credit Card Reported practices included changing aspects of the contract without the consent of the customer, doubling or tripling fees and interest rates, changing billing due dates monthly, and invoking
universal default on first offenders whose payments were a single day late. For further information and links, see Credit Cards.
Online bill pay
If a customer has a bill payment scheduled, but funds aren't available on the day that payment is due to be debited, the bank will attempt to make the payment regardless, and may repeat the attempt up to 3 times in subsequent days if the item is unpaid on the first attempt. This differs from the policy of
FleetBoston wherein funds would not be transferred unless a sufficient balance was available, and no fees were charged if the payment wasn't sent.
The criticism has arisen because if this situation arises and the customer does not have sufficient funds in their account, the bank will charge up to $35 per attempted payment. If customers do not deposit funds into their account before subsequent attempts, they may receive multiple fees.
In February 2006 Bank of America changed their online bill pay policy to send customers' automated bill payments without debiting the payments from their account until the day after they are processed by the payees' bank. This differs from most online banking customers' previous experience with having the funds immediately debited from their account, making online bill pay more in line with mailing out a paper check. Funds are deducted from a customer's account when the payee processes the payment rather than on the day the payment is sent out. This ensures funds are available longer to the customer and not tied up "in limbo" while waiting for processing to occur, but may result in an overdraft situation if the customer trusts the available balance reported by the bank and spends the already-allocated money.
Changes to Interest Maximizer account terms
Ten years ago, the Interest Maximizer account was one of two money market accounts that Bank of America offered.Bank of America, "FACTS About Personal Deposit Account Programs", Disclosure and Agreement, Effective January 1997, page 19, "We offer two money market accounts -- the Cash Maximizer account and the Interest Maximizer account."Banc of America Investment Services, Inc. Relationship Definitions, Bank of America Prima Account -- " A second Prima checking account and an Interest Maximizer money market savings accounts also feature no monthly maintenance fees." Account holders were guaranteed to get the highest money market rate allowed.Transportation Research Board, "TCRP Web Document 8: Marketing Transit Services to Business", Chapter 7 - Bank of America Base Study, 1998, page 147, The National Academies Press, "This chapter provides an overview of the marketing activities of Bank of America (BofA), a $250 billion dollar asset bank with headquarters in San Francisco, California. BofA was extremely generous in providing general information about its marketing approach to small businesses and its relationship marketing strategies for medium-sized businesses. In addition, the Bank provided great detail on the marketing of the Alpha/Prima consumer product, which illustrates the way that BofA undertakes a product launch, whether for business or for consumers." and "Interest Maximizer (for highest money market deposit yields with FDIC safety)" More recently, Bank of America changed this account to a simple savings accountBank of America, "Personal Schedule of Fees", page 5, "Interest Maximizer Account" savings account without notifying the Prima account holders.Bank of America, Your Bank of America Prima Account Statements - January 2006 to August 2007 Starting at the end of 2006, Bank of America slowly began lowering the interest rates for this account without any special notice to the account holders.Bank of America, Your Bank of America Prima Account Statements - January to August 2007 In July 2007, the interest rate on the over $25,000 tier dropped below 1%.Bank of America, Customer Deposit Interest Rates & Annual Percentage Yields", effective August 21, 2007
Public controversy
Race discrimination charges
On May 17, 2007, five black current and former employees of Bank of America filed a lawsuit with the U.S. District Court in Boston, Massachusetts, contending that Bank of America engaged in discriminatory practices towards its employees. The lawsuit claims Bank of America discriminates in regards to its pay, promotions, training, and support services towards its African-American employees.
Secured credit card program
In February 2007, Bank of America expanded a pilot program from 5 to 51 banking centers in Los Angeles. The pilot program is designed to help people with no credit or poor credit establish a credit history. BOA began marketing their secured credit cards, a pre-existing credit product, as a method of doing this. The controversy stems from the bank policy used to verify the identity of customers. Instead of requiring a Social Security Number, Bank of America accepts applications with a Taxpayer Identification Number, along with two other forms of ID (driver's license, consular ID, passport, etc.) This method of ID verification has been in place since the October 26,
2001 introduction of the USA Patriot Act and is utilized by some banks for new accounts of any type. The acceptance of the
Matricula Consular, an ID issued by the Mexican government through its consular office, exists as a major point of this controversy. The Patriot Act neither endorses nor prohibits the use of any consular identification in this fashion. However Congress, when given a previous opportunity to address it on September 14 2004, voted down a motion to prevent financial institutions from accepting consular IDs. Anti-matrícula proposal defeated New legislation has been submitted recently, however, to address the issue. Tom Price Congressional Office
Critics (Lou Dobbs being the one cited in this article) claim that Bank of America's policy specifically targets immigrants who reside in America illegally. CNN - Lou Dobbs Transcript Additionally, Fox News commentator Neil Cavuto and Colorado Congressman and 2008 Presidential Candidate
Tom Tancredo have argued that the policy could be used by terrorists. Representative Tom Price (US politician) (GA-06-R) has announced that the Committee on Financial Services will be convening hearings on the methods permitted by the FDIC and Treasury policies applying to verification of the identity of potential customers. Tom Price Congressional Office Bank of America's Terror Loophole Tancredo Says Banks Dangerous New Policy Could Facilitate Money for Would-Be Terrorists Fox News - Report: Bank of America's New Credit Card Targets Illegal Immigrants
BofA's Ken Lewis (executive) has stated that it would be unfair and discriminatory to turn away anyone with the legally acceptable forms of identification regardless of how controversial the practice.
Matthew Shinnick's arrest
In December 2005, a San Francisco man named Matthew Shinnick was mistakenly arrested at a Bank of America branch when he attempted to negotiate a fraudulent check he received from a buyer responding to a Craigslist ad. After Bank of America declined to pay Mr. Shinnick's legal fees, reported to be $14,000, consumer advocate and radio personality
Clark Howard publicized the case on the air.
Missing computer tapes
According to an MSNBC.com story in March 2005, Bank of America lost computer tapes containing information on as many as 1.2 million federal employees, including Senator
Patrick Leahy, D-Vt. and other members of the U.S. Senate. Sen.
Charles Schumer, D-NY, reported being told that the tapes had likely been stolen from a commercial aircraft by baggage handlers. The tapes contain data including Social Security numbers and account information. The bank issued an apology. A spokesman for the bank said it would be "virtually impossible" for anyone who found the tapes to access the data. Bank of America loses customer data
Offsetting Social Security benefits
In 2004, a California jury decided that Bank of America had acted illegally with regards to the Social Security (United States) benefits of a million customers. The jury awarded damages that could exceed $1 billion. Bank of America had been accused of withholding customers' direct deposit social security benefit payments to cover debts in cases where a debt is owed to the bank by the customer (e.g.: due to an overdrawn account, various service fees, etc.). A prior case (Kruger vs Wells Fargo Bank) established that a bank could not offset a customer's government benefits to collect against a delinquent but separate credit card. In Miller v. Bank of America, the plaintiff argued that the same
precedent should prohibit the bank from collecting the balance of an overdrawn deposit account. The trial court's decision and the jury award was overturned on appeal. Paul Miller v. Bank of America
Online banking security
SiteKey
Announced in May 2006, SiteKey, provided by
Passmark Security, is an additional
login step added to the Bank of America online banking website. If the Bank of America system recognizes the user's computer it displays a small image and a text token previously selected by the user. If the user does not recognize the image the user is instructed to not log in and call a phone number for "Electronic Banking Services." If the Bank of America system does not recognize the user's computer the user is asked one of three security questions that had previously been selected and answered by the user. The bank claims this as an added security measure to help reduce the likelihood of
phishing attacks by allowing users to easily verify the authenticity of the server to which they are connected. This feature is vulnerable to a man-in-the-middle attack, and human tests have shown that the absence of a SiteKey image is ignored. However, it is no less secure than the simple username-password requests most banking sites use.
Though SiteKey will by no means render Bank of America customers immune to phishing attacks, it demands a two-way exchange of
Authentication information: The Web server presents the user its credentials (your chosen image and text) as a means of proving they really are the bank. Only after seeing the image they have chosen, the bank instructs its users, should they, in turn, present their credentials (
User (computing) and Personal identification number).
While the two-way authentication is currently an uncommon function among the consumer banking industry, the recognition of the user's computer, or more accurately, their browser, is still done in the normal way using HTTP Cookie. Additionally, an
Adobe Flash Local Shared Object is added to the user's computer that stores identifying details of customers, such as log-ins, in a way that is said to prevent most customers from finding or deleting them.
Website redirection weakness
In April 2005, Bank of America was the target of a
phishing scheme that exploited a flaw in the online banking website. Normally, a phishing link that accesses an illegitimate website can be detected by carefully reading the Uniform Resource Locator in the web browser. One URL for the Bank of America website allowed a second URL to be passed to the Bank of America website for redirection. This allowed the phishing link to access an illegitimate website through the Bank of America website and thereby display a "real" Bank of America URL while accessing the illegitimate site. Bank Of America- 'Online Banking Alert (Change of Email Address)'
Parmalat Bankruptcy
In late December 2003, the Italian dairy and food corporation
Parmalat SpA declared bankruptcy. This followed a claim in September of that year that the company held nearly $5B in assets with Bank of America in New York. The bank denied the existence of such an account and an ongoing legal battle ensued over accountability for Parmalat's insolvency.
Parmalat Bankruptcy Timeline lists the events chronologically.
References
Bank of America controversies - Wikipedia, the free encyclopedia
Bank of America has been involved in several controversies and received a wide variety of public criticism. This page details some of the more notable and public issues.
Bank of America - Wikipedia, the free encyclopedia
... check first" check clearing, overdraft fee policies, credit card application policy, and early account closures, have become heavily criticized. Bank of America controversies ...
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... bac) company financials income statement balance sheet cash flow statement bank of america military account article contact main controversies html i'd think you bank of america ...
America of bank - Online Banking Help
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The Bank Of America Credit Card Is Fraught With Controversy
... card access is being hotly contested, the fact of the matter remains that a Bank of America business credit card is still a much used commodity and no matter what the controversies ...
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Reference for Bank of America - Search.com
... check first" check clearing, overdraft fee policies, credit card application policy, and early account closures, have become heavily criticized. Bank of America controversies ...
Bank of America: Information and Much More from Answers.com
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