Question

BANK OF AMERICA’S CORPORATE SOCIAL RESPONSIBILITY AND THE OCCUPY WALL STREET MOVEMENT OVERVIEW Although Bank of America invested $268.8 billion in CSR- related activities in 2010, it was a leading target for the Occupy Wall Street protestors in 201. In July 2008, Bank of America had acquired Countrywide Financial to become the largest mortgage lender and consumer bank in the US, which made it the lender in one of every four US home loans. Public outcry demanded more and more from the bank, as it was repeatedly blamed for causing the 2008 mortgage crisis. Bank of America released its 2010 CSR Report in early 2011 amid controversy as to how the bank should repay the public for the legacy Countrywide issues. The report emphasized the bank’s commitment to its core values and operating principles and its continued struggles in the mortgage arena.

CASE DISCUSSION QUESTIONS:

2. Did or should Bank of America communicate to the Occupy Wall Street crowd about its CSR work?

Answer 1

Bank of America attempted in reviving its financial status and Goodwill in the market by investing diligently in the CSR activities. However, if the Occupy Wall Street continues to protest against the Organization, then the same shall reflect upon Bank of America’s credit ratings and impact its financial standing in the market. Moreover, it is to be noted that the investments made by this Organization into CSR is considerable in value. If the same is failed to be highlighted to the protestors, then the efforts taken by Bank of America towards the CSR activities, shall go futile.

In addition, since its 2010 CSR report is already ready for the stakeholders, the same could be highlighted to the Occupy Wall Street Protestors to improve their tarnished image before the Public. The more this Organization tries to ignore its protestors, the more shall be their overpowering upon Bank of America. Hence for once, the same needs to be well-communicated to the crowd about its CSR work.