Whistleblowers Confirm Bank of America Still the Worst Bank

[Corey Dutton]

According to a recent article published by the Huffington Post, former employees of Bank of America have filed sworn statements about the bank’s unethical conduct toward borrower’s seeking loan mods or due process on foreclosure.

Bank of America also publicly showed taking only $45 Billion from the Fed in bailout money, but secretly took double that for a whopping $91 MM taken from the U.S. public coffers via Uncle Ben Bernanke. Right again, that’s YOUR money that the Fed used to bail out this greedy institution. Read more on the biggest takers of public money during the Fed bailout here: http://www.bloomberg.com/data-visualization/federal-reserve-emergency-lending/

Bank of America whistleblowers cited examples of how Bank of America employees were administratively giving the run around to borrowers seeking loan modifications or due process on their foreclosure process. Any Bank of America employee that challenged these practices was fired. Further, the whistleblowers said that top employees were given bonuses for meeting foreclosure “quotas.”

For any of you that have dealt with Bank of America, whether as a borrower or as a buyer of REOs, you too have probably experienced the administrative nightmare of this bank. Please share your own experiences with Bank of America as either a borrower or a buyer of bank REOs. As I said in my last post on Bank of America, this is one bank that should have been allowed to sink.

This bank is essentially a government owned entity posing as a publicly owned company. Just like all of the communist and socialist, government owned enterprises found around the world, Bank of America is no different. Zero efficiency, administrative jungles, lack of competition, and co-dependency are some of the characteristics that make up these types of government owned entities. How is Bank of America any different? Read the entire whistleblower article here: http://www.huffingtonpost.com/ray-brescia/bank-of-america-whistleblowers_b_3464583.html

[Brian Mathews]

Originally posted by Chris Martin:

Originally posted by Brian Mathews:

I'm not a fan of big banks. I only bank with locals and credit union. Not sure if anybody heard story of BoA trying to repo guys house. He didn't even have a loan on it, much less BoA. Owned it outright. He racked up all sorts of legal fees and won a judgment against them to pay his fees, which they did not pay. He got a court order to repo take possession of the furniture at the local branch to satisfy his debt, they came up with funds in an hour. Not sure BoA is only bank to screw this up, but sure speaks volumes about large banks and their lack of personal concern or attention to detail.

Not sure if this is the same story.... but their facts were not well researched. BP topic BoA gets forclosed on.

I'm not sure, it sounds similiar. I was listening to the radio one day years ago and it was part of the news. What facts weren't researched. The OP's or this link? I don't put a lot of stock in people when they start spewing gov't owned, communist, etc... I consider myself conservative, but think the tea partier's sometimes are an embarassment honestly. It's usually those that spew that crap.

[Chris Martin]

Many of the OP's statements were not based on facts. I brought some of those up in my June 27 post in this thread. If you follow the link I provided, you can see my commentary on the other thread.

[Brian Mathews]

Originally posted by Chris Martin:

Many of the OP's statements were not based on facts. I brought some of those up in my June 27 post in this thread. If you follow the link I provided, you can see my commentary on the other thread.

I think its this one. They went to take the furniture and they cut them a check.

http://www.newser.com/story/120157/bank-of-america-pays-debt-to-couple-when-threatened-with-furniture-repossession.html