Wednesday, September 29, 2010

BofA under fire from SEIU, consumer groups - New Mexico Business Weekly:

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The criticism comes from the , whicjh is trying to organize the bank’s along with the and the . They said that BofA pressuree workers to meet sales quotas that burdened especially among the working with costly andunnecessary products. “The SEIU’s claims misrepresent Bank of America’ds relationship with its customers andits associates,” responded Anne a spokeswoman for Charlotte, N.C.
-based BofA Some of the practices being criticized, such as courtinf those at embassies to sign up for checking accountsa and other products, has long been seen as savvh move by major banks to reach out to Another area of criticism by the groupws Tuesday involved debt One former BofA employee said the bank falselyy threatened legal action, in violation of federal law. The formerr employee also said the bank called neighbors oftroublec borrowers, asking them to delivefr a message to the BofA customeer and hoping to embarrass them. “We will not commenyt on specific allegations made byformerd associates, but will say that our practicesw are fair,” BofA’s Pace said.
“Thed bank is committed to providing products and services to all of our customerw to help them meet theirfinancial needs.”

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