Paul Sakuma / Associated Press
April 4, 2012
As a consumer bank, BofA won few friends when it tried to charge customers $5 a month for using their debit cards for purchases, causing hundreds of thousands of clients to switch accounts. But there were more faux pas to come, including the bank's decision to sever some small-business credit lines and then demand that customers switch from making monthly payments to one-time payoffs. On the mortgage side of its business, Bank of America was accused of false foreclosures, improper property seizures, robo-signing and other unsavory practices. All this during a year when Chief Executive Brian Moynihan's pay quadrupled, the company's stock plunged 58% and plans to lay off 30,000 employees were announced.