Bank of America Corp (BAC) Wasn’t Attacked or Hacked — and That’s a Fact

Excessive outages need to be addressed
Indeed, as customers took to Twitter and other outlets to vent their frustration, analysts weighed in on how the big bank needs to get its act together. Considering the amount of money that B of A has invested in its mobile and online banking sectors — over $500 million since 2008 — some critics find it outrageous that the bank has no backup for the times when the system is down, leaving over 12 million customers in the dark.

I have to say I agree. Now that the bank is making an all-out effort to be kinder and gentler to consumers, constantly irking them with online and mobile outages is like the big bank shooting itself in the foot. After investing $500 million, B of A needs to spend some cold, hard cash to fix these problems, or risk more dings to its already tarnished reputation for customer service.

The article Bank of America Wasn’t Attacked or Hacked — and That’s a Fact originally appeared on Fool.com and is written by Amanda Alix.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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