Sunshine State Rains All Over Bank of America Corp (BAC)

Displeasure with Bank of America is endemic
Unfortunately, negative feelings toward Bank of America Corp (NYSE:BAC) aren’t limited to surveys and consumer complaint databases. A quick trip around the Internet turned up several sites that log consumer concerns, and Bank of America rated poorly on each one.

My Bank Tracker rated the bank a “2 out of 5 marks” on every scale, based upon nearly 650 consumer reviews, and consumeraffairs.com registered an overall rating of a smidge over one star — out of five — based upon 950 ratings. This site also noted that “hate” was the dominant emotion that consumers projected in their comments about the bank.

The granddaddy of all opinion sites, Amplicate , showed that B of A’s “hate” rating was a disquieting 89%, based on more than 26,000 reviews. Wells  rated 87%, albeit on a scant 2,900 comments, and JPMorgan Chase & Co. (NYSE:JPM) got a hate rating of 78%, based upon about 5,800 reviews. One unsettling thing I noticed here is that complaints regarding Bank of America seemed to be decreasing from February through April, but they began to climb again in May.

Unfortunately, the efforts being made by CEO Brian Moynihan to spruce up B of A’s image with consumers don’t seem to be working. Despite the gains the bank has made over the last two years, I do think this issue needs to be constructively addressed if Bank of America is to regain its former glory. There’s a lot of work yet to be done in this area, and B of A obviously needs to step it up.

The article Sunshine State Rains All Over Bank of America 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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