Ann Minch decided she’d had enough of Bank of America after the bank notified her it was raising her credit card’s interest rate to 30%--for no apparent reason. So she made a video and posted it on Youtube inviting viewers to join her in a “debtors’ revolt.”
“Put that in your bailout pipe and smoke it,” she said to BofA.
CNNMoney reported that after Minch’s video gained in popularity, BofA informed her that it was restoring her credit card rate to its prior 12.99%.
But there’s telling detail in Minch’s video: In addressing BofA’s Chief Executive Ken Lewis directly, she mistakenly calls him Ken Lay.
The late former chairman of Enron Corp. rose to infamy after being convicted of multiple counts of securities fraud, in a scandal that cost the company’s shareholders and employees millions. At the time of its collapse in 2001, Enron’s bankruptcy was the largest in U.S. history.
Minch’s mistake highlights yet again the dire state of big banks’ reputations. We at BankThink will refrain from suggesting ways they could begin repairs. The items on that list would just be to obvious.