Consumer Complaints: I hate Bank of America!
It's a simple story. One told by many... of a bank transaction gone wrong and a bank who won't fix their mistake. According to a news story, about an hour after Avi issued a check for $2,500, he contacted Bank of America (which happens to be across the street from his house) to have the check canceled. He says the bank told him it was canceled, but later allowed the check to clear and told him tough luck. Avi says this isn't the first transaction the bank has messed up for him, and he's sick of their errors costing him money.
When the bank wouldn't work with Avi, he put a big sign on his house that says "I hate Bank of America" and started a website, ihateboa.com. He says that he's just standing up for himself and that other consumers need to do the same. One consumer did just that last year, starting a site called lowes-sucks.com. Lowes tried to use legal tactics to get the owner to take that site down, and eventually the two sides came to a settlement which resulted in the site going away and the creator going mute on the issue. (I do hope he got some money for his troubles!)
Bank of America tried to get Avi to take the sign off his house by calling the police on him, and he politely declined. He made an even larger sign after that incident. My instincts tell me that this site will be taken down soon. The bank will either buy Avi's silence, or they will threaten to sue him. But I hope that doesn't deter consumers who have a right to be heard. Those who hate Bank of America might also consider visiting another interesting site that Avi has pointed us to: bankofamericasucks.com.
As a side note, companies have taken to buying domain names to prevent against things like this. Just take a look at who owns marykaysucks.com... lifelocksucks.com... or countrywidesucks.com. (You guessed it. They're all owned by the companies that the domain names reference. A little preemptive strike.)
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Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.