Wednesday, February 11, 2009
Cavalcade of Capitalists: Bling of America Employees "Incentivized" to Trick the Bereaved into Paying Deceased Relatives' Debts
There's got to be a special place in hell reserved for the usury bosses at Bank of America. The grieving son of a mother who died of cancer was told by a New England branch of Bank of America that he should pay off her remaining debt, because that unpaid amount (less than $1,000) was contributing to the current financial crisis. TPM followed up to discover from a former BoA employee that collection associates are coached by supervisors to deceive relatives into believing that the debts of the dead are their obligation.