a different view of news

Bank of America now in the business of home invasions?!

Bank of America Corporate Center - Charlotte, nc

Bank of America Corporate Center - Charlotte, NC

Reading the Wall Street Journal today, an article on the 3rd page caught my eye. Apparently, Bank of America has gotten into the business of home invasions and parrot-napping (NY Daily News).

Angela Iannelli, a 46 year old from the Pittsburgh area, came home to find her door padlocked, her house ransacked, and her 11-year old parrot – Luke – missing. A Bank of America employeed royally screwed up, believed her property to be vacant (it wasn’t, nor was she behind on her payments), and sent a contractor over to install a new lock and “secure” the property. I guess in Pittsburgh, the method of securing a property is to cut the power and water, cut electrical lines inside the house, damage floors, damage furniture, pour anti-freeze into the toilets, and take animals. Maybe the contractor should be lucky it was caught after the fact, because there is a good chance that somebody might have gotten shot.

When Ms. Ianelli returned home, you can imagine what went through her mind. The biggest thing to her was that her parrot was missing. She claims to have stayed with friends until he was returned.

Bad enough that the bank goofed, even worse was the lack of response or helpfulness from the bank when she called. They denied knowing where he parrot was, then eventually was told she could drive the 80 miles to the contractor’s office and retrieve Luke herself.

Needless to say, she is suing the bank for more than $50,000, and she rightfully should. If I had been her, I would’ve wanted to make sure that I received enough to repair all of the damage, pay my lawyer, give myself a little, and, most importantly, had them wipe away my mortgage. Why? Just as we are judged by trustworthiness by the bank (i.e. credit score), we need to have trust in the bank too. Just because they hold the lien doesn’t give them to right to waltz in and out whenever they please, especially when it involves damaging the property.

The bank issued an apology this week after the lawsuit went public. Too little, too late. I’m rooting for you, Ms. Iannelli. Did I mention I have a Bank of America mortgage too?

Similar posts
  • Do our financial advisors always know...   It’s a good question. A couple of jobs back, I had an 401k account. They didn’t match, but they put 3% of my salary into my 401k, regardless of what I put in. So I put in 3%. As the times were good, I watched it grow. It was a measly amount, maybe $3500 [...]
  • We say one thing, then do another   Read an interesting article on the Dow Jones Newswire today. Of all of the criticism that Ken Lewis, CEO and former Chairman of the Board at Bank of America, has received, he got a bit of praise from an unexpected source: Barney Frank. Rep Frank commended Ken Lewis’ bold move to forge ahead with [...]
  • Ken Lewis no longer Chairman of the B...   That’s right. SEIU won this battle against the board, by getting this proposal through with right at 50.34% of the vote. The recount makes absolute sense now, given the .6% difference. But wow, I honestly didn’t think it would make it. I figured it would be close, but, wow. Coincidentally, this is the first time [...]
  • A suit and tie affair   I just got back from the 2009 annual Bank of America shareholder meeting, which started at 10AM at the Belk Theater, adjacent to the Bank of America Corporate Center. After some confusion as to which line was which (me and several other shareholders ended up standing in line with associates), the theater was full [...]
  • Coverage from BofA shareholder meetin...   I have elected to vote my shares in-person this year at the Bank of America shareholder meeting this Wednesday. I have already voted the bulk of my shares, and needless to say, the dissident holders won’t like me. Either way, nothing like free tickets to a suit-and-tie cage fight between Finger and others against Ken [...]