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It’s Official: Bank of America Corp (BAC) Has the Worst Reputation in the Banking Industry

One consolation here is that all of the too-big-to-fail banks settled at the bottom of the list. Wells Fargo & Co (NYSE:WFC) , in particular, was held in only slightly better regard by its own clientele, with a second-worst customer score of 55.75. And JPMorgan Chase & Co. (NYSE:JPM) , while better, still found itself in the bottom third, with a markedly higher customer score, but one of the worst in the group in terms of how non-customers perceive it.

Regardless, the point here is that this is a problem for Bank of America Corp (NYSE:BAC). And I don’t mean that it’s a feel-good problem. Yes, it’d be nice for every company to treat the world and their customers in a friendlier manner, but let’s be real: That just isn’t going to happen. In this case, however, the overwhelming quantity of disdain heaped upon Bank of America is almost certainly having a substantive impact on its performance. And this is why it’s time for the bank to get its act together.

John Maxfield owns shares of Bank of America. The Motley Fool recommends Bank of America and Wells Fargo & Co (NYSE:WFC). The Motley Fool owns shares of Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Co (NYSE:WFC).

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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