Target: Bank of America CEO Brian T. Moynihan
Goal: Condemn this international bank for lying to customers and cheating them out of their money
Recently, Bank of America was charged with an $800 million settlement for cheating their customers out of money. Customers were tricked into purchasing useless “credit protection” when they signed for a credit card. Many bought it unknowingly, thinking it was the terms of agreement they had been told to sign. Worst of all, some were enrolled without giving any authorization for the bank to do so. This is just the latest scam in what is becoming a long list of wrongdoings for Bank of America. Sign this petition to condemn these unlawful actions and to tell Bank of America’s CEO Brian T. Moynihan to stop cheating customers.
Bank of America decided to settle and pay $800 million as a way to avoid litigation. The payment by no means shows the company’s desire to make amends for scamming their customers. Instead, it cements the corporation’s practice of cheating customers and paying its way out once it is caught. Just months ago, numerous employees stepped forward to expose foreclosure fraud occurring within the bank.
Bankers were rewarded by the number of foreclosures they settled, and were instructed to delay customer payments until the house went into foreclosure. Customers were told their paperwork was “under review” when in actuality the bankers had no intention of putting the files through to stop the foreclosure. Similarly, Bank of America was also caught committing mortgage fraud. The U.S. government is currently seeking $2 billion in damages for the massive profit the corporation reaped from these actions.
Bank of America has endlessly deep pockets and an army of corporate lawyers ready to protect the business at every point. What, then, is left to do when a company cannot be held accountable by the law? The people must step up. CEO Moynihan must be told by the masses that his company’s actions will not be tolerated any longer. Hardworking citizens should not be cheated out of their paychecks by a rich corporation looking to increase its profits through fraud.
Dear CEO Moynihan,
I learned Bank of America recently settled a suit for $800 million. Your corporation was caught telling customers to make monthly payments for “credit protection,” a program which did not exist. Sadly, cheating customers has apparently become a regular pattern for this bank. This is but the latest in a daunting line of scandals.
Just months ago, Bank of America was exposed by its own employees for giving bankers rewards for the number of foreclosures they settled. Employees were told to delay or even lose paperwork that would save a customer’s house from being taken by the bank. These actions are just on the heels of the incredible mortgage fraud your company committed and as a result the bank is now being pursued by the U.S. government for $2 billion in damages.
Frankly, these actions are despicable. Your wealthy company has been cheating customers out of their hard-earned money; to you, it’s another $40 in your pocket, but to them that money can mean having the ability to feed their children or put gas in their car to make it to their job. While you may have avoided litigation over the credit protection scam, Bank of America has not escaped unscathed. We will not support your business in the least until it has shown that it has changed ways.
[Your Name Here]
Photo Credit: Insider Monkey via Wikimedia