10 Companies with Terrible Reputations

Bank of America

Bank of America made an announcement in September that it was laying off 30,000 people and its share value has dropped 55 percent in one year. The bank continues to deal with legal actions from the federal government, several states and some of its shareholders. In early September the FHFA officially announced its lawsuit against 17 banks, including Bank of America, JPMorgan Chase, Citigroup , and Goldman Sachs, with reference to $196 billion in mortgage securities. Bank of America has even been charged with keeping one of its major legal threats a top secret from shareholders. Top Bank of America lawyers knew as early as January that American International Group was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to Reuters. Retail customers have shown their contempt for Bank of America’s customer service. Not only is it near the bottom of many customer satisfaction surveys, 41.5 percent of respondents in the MSN Money-IBOPE Zogby International customer service survey rated its service as “poor.” That is the maximum percentage of respondents giving a “poor” rating to any company.