Bank of America

efficiently managed banking institutions in the United States. However, this immaculate reputation has been tarnished in the wake of the recent fake accounts scandal. Since the beginning of the decade, the employees of the bank have created millions of fake credit cards and bank accounts. From 2011 to 2016, this banking institution has managed to collect a staggering $2.6 million in consumer fees (Partnoy & Eisinger, 2016). The collection of this huge amount of money is a direct outcome of the…

Culture and Management Style: The way Bank of America present its own culture will influence the performance results of the management team implementation of the organization control system, management style is probably the most important and will have the biggest impact on the management control system depending on how the management team is perceived in the entire organization, from the CEO down to the lower layer of supervisors. Informal Organization: Management needs to recognize the…

Crisis demonstrate, when a company is as influential as JPMorgan Chase & Co., the American public is a stakeholder. Their customers include individuals, corporations, small businesses, governments, universities…the list goes on. If an entity can bank, they can bank with JPMorgan Chase & Co. 60.6 million households have at least one consumer banking account with Chase—roughly half of American households. Chase is the number one credit card issuer in the United States, the number two mortgage…

threat the bank has faced is intense government regulations such as The Dodd Frank Wall Street Reform and Customer Protection Act, signed by President Obama, and is expected to greatly increase the fees all financial intuitions pay. JP Morgan Chase also faced regulation from The Federal Reserve Board when they established the Consumer Financial Protection Bureau, which has placed restrictions for lenders on credit cards, mortgage loans, student loans, and auto loans. Another threat the bank…

case, company is plural and the country that took those extreme measures was the United States of America. The 2007-2009 financial crisis caught the world by surprise and led to a renewed interest in understanding the inner workings of our financial systems and the consequence of not abiding by the governmental rules put in place to regulate those financial systems. With the collapse of investment bank powerhouse, Lehman Brothers in 2008, the worst financial crisis since…

Their wrongdoing has left other banks with the responsibility of maintaining trust with their current customers as well as previous Wells Fargo’s customers. Due to their actions, compensation regulations are under scrutiny and may be changed in the near future. Wells Fargo was the leading bank in cross selling. After scrutiny from the public and demanded fines from CFPB, the idea of cross-selling products plummeted…

Bank of America Corporation Porter Five Forces Analysis Strategic Management Essays, Term Papers & Presentations Porter Five Forces Analysis is a strategic management tool to analyze industry and understand underlying levers of profitability in a given industry. Bank of America Corporation managers can use Porter Five Forces to understand how the five competitive forces influence profitability and develop a strategy for enhancing Bank of America Corporation competitive advantage and long term…

the role of J.P. Morgan Chase & Co in the financial system. Assess its exposure and performance during the financial crisis of 2007-2010. Did it do well or badly?” The bank J.P. Morgan Chase & Co. (JPMorgan) is the biggest bank by assets and the most profitable bank in the United States. It can be recognized as the most robust bank. JPMorgan, as a global financial services leader with a long history, was formed in 2000 after merging with The Chase Manhattan Corporation. JPMorgan is a financial…

Erica has a rough day. She spills coffee on the keyboard, steps on chewing gun, gets a parking ticket, and she also get a mail because of forgetting to pay credit card bill while she is boxing. The good thing is that she is using the Citi Bank Simplicity card. It also says it is the only card that users don’t need to pay annual fee, late fee, and penalty rate. The intended audiences for this advertisement are people who might have same problems as Erica. By giving these new services, the…

be socially responsible, it is always important to ensure that decisions are ethically made. There is a recent business incident showing the significance of making an ethics-focused decision with its ethics parameters. On May 5, 2015, Wells Fargo Bank is sued…