It’s time to boycott the Bank of America. People these days talk about reasons why one might want to boycott Bank of America. Reasons such as faulty credit practices, integrating unsound financial companies when B of A itself is not sound, changing policies on existing credit card accounts with established members, and charging outrageous bank fees to solid customers are just a handful of reasons why Americans are upset with Bank of America. What are my reasons?
As a former banking industry employee, I can speak to the issues of boycotting Bank of America. Although I never worked for B of A, my banking experience allows me to take an insider look at insider banking practices.
I also have banked with Bank of America. Want reasons why you should boycott Bank of America? Ask their customers. Customers have felt the pain, considered it shame, and gotten out of the game.
But I set aside each of these legitimate reasons to boycott Bank of America for one superior reason: the name of the bank.
The Bank of America? What kind of name is that? Does any nation have a truly national bank? Yes, in the former Soviet Union. The Bank of Russia, the Bank of Yugoslavia, yeah, those were successful businesses that looked out for consumers and employees. In America banks encourage customers to save money so that they can turn around and lend out that money in the form of personal, business, and mortgage loans. National banks? They look out for their own interests, not the interests of the nation.
Just look at the problems we have with banks every 15 or so years. We have waves of failures, bailouts, and then prosperity, only to begin the cycle all over again. Imagine the National Bank cycling from prosperity to bankruptcy and back again. Does this really help our nation?
Someone might say that boycotting the Bank of America would be like boycotting America itself. Get a life. The only way to boycott America is to leave America. Boycotting a bank that claims the name of our beloved country, the exclusive name of our nation, is patriotic.
Now consider that the Bank of America is the largest bank in our nation, gobbling up smaller banks, and all the while maintaining that exclusive name: THE Bank of America.
It scares me to think we may soon have only one bank in town.