Top 10 Brand Disasters of 2011

Bank of America Backs Down
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10. Bank of America Backs Down

BofA thought they'd hit the perfect gold mine: charge people $5 a month to use their debit cards. After all, to banking execs, a fiver is just small change. Who would complain? Unfortunately, that supposedly insignificant $5 fee turned out to be a big hit on people who rely upon debit cards to get by. Protests exploded, lawmakers fumed, and in the end BofA backed down, thereby appearing gutless as well as heartless.

Lesson: Don't assume your customers share your view of the world.