Bank of America: Consumers Fight Back Case Solution
This is just an excerpt. This case is about STRATEGY & EXECUTION
PUBLICATION DATE: March 25, 2016
On October 6, 2011, President Barack Obama openly reprimanded Bank of America for establishing a brand-new income stream: a $5 regular monthly charge for all Bank of America debit card holders, which the bank had actually revealed a month previously. The president's public review of Bank of America came in reaction to-and assisted exacerbate-consumer anger about the bank's month-to-month cost, modifications throughout the banking sector, and basic discontent with Wall Street. Bank of America's scenario was made complex even more by continuous legal action following acquisitions of Merrill Lynch and Countrywide, which injured the company's investors and resulted in massive worker layoffs. Within this case study, trainees will be questioned to examine how Bank of America might have much better handled the contending interests of various stakeholders, consisting of investors, workers, regulators, clients, and the general public.
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