A fake letter said to be penned by Bank of America CEO Brian Moynihan was sent out to various media outlets yesterday.
It’s unclear who is behind the fake letter, but it is linked to the website YourBofA.com, which touts the logo “Your Bank of America” and has various pages about Bank of America’s past and the lessons it has learned from the financial crisis.
Before realising it was fake, some media outlets like Dow Jones Newswires, wrote about the website purporting it to be true, according to The San Francisco Business Journal.
The letter claiming to be written by Moynihan starts off “Today, it’s time to acknowledge that our Bank isn’t working anymore—not just for the market, but for people, our real customers…” and goes on to address the bailouts the bank received, its falling stock price and the various lawsuits the bank faces.
A contact listed on the press release told the San Francisco Business Journal:
“We are a group of Americans who feel very strongly that we can run a bank at least — at least — as well as the bankers who help destroy communities, wreck the environment, and in the process run their banks into the ground and then require taxpayer bailouts.”
Bank of America reported its first quarter earnings today to general positive response as it beat analysts estimates. But even though its stock is rallying, we’re not sure if the same can be said of its public reputation. Just last month, a speech Moynihan was giving at a Citi investor conference was interrupted by protestors too.
Read the entire fake letter at YourBofA.com.