Why Bank of America Corp (BAC)’s Name Is Mud

Then, there was a recent faux pas on the part of Wells Fargo & Co (NYSE:WFC), whereby a man undergoing chemotherapy was put through some major inconvenience when he entered a branch in Montebello, California, wearing a surgical mask. He noted that he was only trying to protect his frail immune system against germs, but an employee thought he was a holdup artist dubbed the “Surgical Mask” robber. The man was put through much humiliation and was quite unhappy with Wells Fargo & Co (NYSE:WFC).

At least this story had a happy ending. By way of apology, Wells Fargo & Co (NYSE:WFC) gave the man a check for $5000 to donate to the charity of his choice.

In Bank of America Corp (NYSE:BAC)’s case, the sidewalk graffiti incident got blown out of proportion, turning into a free speech issue when a judge prohibited Olson’s attorney from using a First Amendment defense, focusing solely on the vandalism issue. The outrage surrounding this case is apparent from this Huffington Post piece, where one commenter muses about whether positive remarks regarding Bank of America would have garnered the same charges.

Now that Olsen has been acquitted, the city attorney and Bank of America look worse than ever. It seems that B of A will never learn, always taking the path to public revilement even when it would be more sensible — and easier — to take no action at all. From imposing unpopular debit card fees to actively enforcing unethical behavior, the big bank just can’t seem to learn that oftentimes, less is more.

The article 1 More Reason Bank of America’s Name Is Mud originally appeared on Fool.com and is written by Amanda Alix.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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