Bank Of America Hit Hard By Bloggers
If its one thing Bank of America wasn’t expecting is that it would get bad publicity from a few video bloggers who went on to show other consumers how Bank of America was taking so much money in overdraft fees as as well interest rates on credit cards and other lending. These no more than average bloggers got the attention of some major news sites as well as public broadcasting stations, and this has put Bank of America in a bad situation.
B of A responded by making changes to their fees and overdraft system of clients which are going into effect the month of October some time. This is just a prime example of how powerful the internet really is. Now an average individual with very little clout can reach millions of people and get some attention they normally would not have gotten just a few years back. Other tools which are making this even more possible include twitter, youtube and facebook, where users can communicate with one another and pass on information to a wide audience.
It will be interesting to see how other companies react to bad publicity through the social media.
Leave a Reply 
We are a couple of friends working in the finance industry, and decided to start a site on money. Here we not only share some of the tips that have made us successful investors, but we also share with you practical information that is pertinent for the everyday business man or women. Some of the subjects we will be writing about include stocks, bank cd rates as well as savings accounts, money market accounts and more.
