Page 149 - Flip Banks TG

However, the Justice Department initiated lawsuits against

Bank of America because they lied about, amongst other

things, asset quality.

The BofA brand which took years to build has been

tarnished and will take a great deal of will and effort to

restore.

Ethical Issue

BofA claimed that it was

“• Doing the Right Thing:

We have the responsibility to do the right thing for our

customers, shareholders, communities and one

another.

• Winning:

We have a passion for achieving results and winning—

for our customers, our shareholders, our communities

and one another.”

In 2011Bank of America’s Operating Principles were

• Be customer-driven
• Manage risk well

• Continue to build a fortress balance sheet

• Deliver for our shareholders

• Manage efficiency well
• Be the best place to work