First, a tip of the hat in congratulations to you for this:
Bank of America’s board late Wednesday named its 50-year-old consumer and small business banking chief, Brian Moynihan, as president and CEO.
Next, a tip about this problem:
Moynihan takes over at time when the bank faces continued loan losses in the billions of dollars. It lost more than $2.2 billion in the third quarter as bad debt kept rising as consumers still struggled to pay their bills. Bank of America, which has about 53 million consumer and small business customers, is considered particularly vulnerable to unemployment, which remains at double-digit levels.
I am one of your customers. But you have not suffered any loan losses from me.
By God’s grace, you won’t.
And you could help by lowering my interest rate. That’s my tip, Mr. Moynihan. Lower my interest rate, thus reducing the financial pressure on me, thus making it less likely that you’ll suffer any loan losses from me.
Seems mighty sensible to me.
So, to anyone at Bank of America reading this, please email the link to this blog post to Brian Moynihan.
Lower my interest rate, please, and do your bank (and me) a big favor.
Thanks anyway. 🙄