Bank of America is subject of phony news release, website

By Kirsten Valle Pittman
kpittman@charlotteobserver.com

Posted: Wednesday, Apr. 18, 2012

The website appears legitimate, at first glance, with Bank of America Corp.’s familiar blue-and-red logo, information about the Charlotte lender and a picture of its chief executive.

But the site – and a news release announcing it, purportedly from the bank – are bogus, Bank of America said.

The material, which showed up in some reporters’ inboxes Wednesday morning, said the bank had launched a new campaign, “Your Bank of America” to “reach out to the American public for guidelines on how banking should happen.” The news release linked to the phony website, which jabs at the bank on various issues, from its stock price decline in recent years to its environmental practices.

“We may not have all the answers,” the release said in a quote attributed to CEO Brian Moynihan. “But we’re confident that those answers exist.”

Bank of America spokesman Scott Silvestri said the announcement and website are not affiliated with the bank.

It’s not clear who is behind the effort. No group has taken credit, and calls to a phone number listed in the news release were not returned Wednesday.

The website details some of the bank’s troubles, including its mortgage-related lawsuits and ongoing foreclosure woes, and offers visitors the chance to create their own advertising campaign.

A fake letter, supposedly from Moynihan, waxes apologetic: “Today, it’s time to acknowledge that our Bank isn’t working anymore – not just for the market, but for people, our real customers,” it says.

It calls on taxpayers to share their ideas to “begin charting a course for this Bank – your course.”

Bank of America saw its share price slide nearly 60 percent last year amid continued problems related to a shaky economy, its 2008 purchase of Countrywide Financial Corp., and other troubles. But the stock has rebounded this year, closing at $8.92 Wednesday, up 60 percent for the year. The bank has also posted profits in recent quarters.

Bank of America releases its first-quarter results on Thursday.

Pittman: 704-358-5248

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David Peterson 1 comment collapsed Collapse Expand

How creative, now if all of the "occupy" protestors just channeled this creativity to actually get jobs and pay their bills...we all might be better off. By the way, let's make sure we get the facts straight and realize that that "Grandmother that the bank is evicting, who lived in her house all her life" had her son take out a mortgage on the property. He took the cash and did not pay it back.... so is it bad bank or bad son? For all those who "protest" the bank foreclosing on people who don't pay their mortgage payments I say this... "can I borrow some money from you, I PROMISE I will pay you back!"
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Catman60 1 comment collapsed Collapse Expand

The system is not Ipad ready.
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Catman60 1 comment collapsed Collapse Expand

Sorry for typos, system would not allow for correction. Hmmph !
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Catman60 1 comment collapsed Collapse Expand

This is just a small injustice, but one that has dire affect on people who's financial situation is critical.
I have been a victim of this and have experienced it multiple times.

The bank will hold onto larger withdrawals from your checking account and wait until you have multiple small transactions, they will then deduct the larger and later transaction first, this can pull your account very low or even into overdraft, they will then run the multiple .75 cent transactions and get you for $35.00 each. This is not just a mistake or oversight by the bank, i have seen it and documented it. Also i have overdraft protection which the bank ignores. On multiple occasions or should I say every occasion I am charged overdraft fees and per incident fees. I have to call the bank and explain the situation, every time. The card I am using for overdraft has a zero balance and plenty of cash available. ( credit balance will not be used only the cash advance amount - arent you glad you were told this ). I think it is all done intentionally, hoping you miss it. Look this one up, they are being sued over it also.
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