Bank Of America Case Study

The banking industry has undergone major upheaval in recent years, largely due to the lingering recessionary environment and increased regulatory environment. Many banks have failed in the face of such tough environmental conditions. These conditions

The Royal Bank of Canada experienced some fundamental managerial errors in May 2003. It was reported as a major “glitch” that had been caused by wrong configuration during the installation process. A simple problem had severely affected the lives of millions of people. In this essay I will discuss the security and control problems such as the simultaneous upgrade of both the main and back-up systems. This will lead into the strategies management could have used to prevent these problems happening in the first place and what they can do differently in future. I will also explain how management neglected the public relations side of the issue which had customers questioning the reliability and stability of Royal Bank of Canada ultimately

1. What is their business strategy to grow profitably and compete over the long term?

Evaluate RBC strategy and organizational structure. Is RBC well equipped to compete with niche operators such as internet-only banks with focused product offerings?

• What is a case interview? The Case Interview • What specific skills does it assess? • How to prepare for a case interview? • An interactive example.

There are various categories of banking; these include retail banking, directly dealing with small businesses and persons. Commercial and Corporate banking which offers services to medium and large businesses (Koch & MacDonald 2010). Private banking, deals with individuals, offering them one on one service. The last category is investment banking. These help clients to raise capital and often invest in financial markets. Most global banking institutions provide all these services combined. With all these institutions in existence within the same localities and offering similar services, there is a need to regulate the industry so as to protect the consumer and provide fair working environment for all banks (Du & Girma, 2011).

The American economy is a complex balance of services, financial, manufacturing, agricultural, and banking industries. For this reason, the U.S. is a global economy, relying upon foreign investments and trade to create and retain wealth. Over the years, America has evolved from farming-based, to industrial, to a services-based economy. As a result, the banking system from its inception has weathered the many growing pains associated with a new government and currency, instituting regulations and a centralized bank to examine the economy, and implement policies intended to offset factors negatively affecting the general financial health of the country.

Strong intro: Advocate is addressing necessary points during into- appreciation, disclosure, intro, name, concern. (adjusting tone appropriately)

Ever since the Consumer Financial Protection agency was born under Dodd-Frank , Senator Elizabeth Warren has been a advocate for Financial reform. Warren has advocated breaking up larger banks, so American does not fall into the "to big to fail" trap again. America should not be in a position, that citizens have to bail them out of a finantual disaster that they created. Warren wants jail time for presidents and managers that abuse the system. No more slap on the wrist for these white collor crimes, is Warren's motto.

Mr. Chen came to our office just now to deliver a document. He wanted to make an appointment with you on Monday afternoon. He said he would like to discuss with you whether we should send an attorney letter to BOA and Wells Fargo regarding his case.

In the year eighteen fifty-two, two men by the names of Henry Wells and William Fargo chose to establish a monetary administrations organization that we know today to be Wells Fargo (Wells Fargo, 2017). Before establishing the organization, Mr. Wells and Mr. Fargo chose to ground their organization in five standards which turned into their five essential esteems. Their first esteem being "individuals as an aggressive esteem" which implies an association with a colleague will prompt a superior association with the clients. Second "morals" Wells Fargo prides its self on being a straightforward organization and having nothing to cover up. Third, "what's ideal for the clients" as indicated by the Wells Fargo Website this esteem is characterized as ensuring clients' private data (Wells Fargo, 2017). The fourth esteem is "assorted variety and incorporation" which implies Wells Fargo advances the enhancement of its organization and customers while including pioneers all through the organization to decide. The last guideline is "administration" which implies learning and serving their vision.

At Wells Fargo, we strive to address all the needs of the consumer. In doing so, we have to be ready and willing to discover and assist the purpose of their visit in a timely manner and in order for that to be done, we have to ensure that enough staff is available to do just that. Within the past six months, we have not had enough staff available and willing to discover and assist. Which means, we have not been able to meet our mission statement and we have ultimately disappointed our consumers. In order to continue meeting the needs of our valued consumers at Wells Fargo, we need to come to a resolve in which we can discover and assist everyone who walks in, provide stellar service and allow the consumer to leave our establishment

Wells Fargo is a financial institution.A financial institution is an establishment that conducts financial transactions such as investments, loans and deposits. Almost everyone deals with financial institutions on a regular basis. Everything from depositing money to taking out loans and exchanging currencies must be done through financial institutions. Advisory The core of our Advisory platform is a strategic focus on the long-term advantages and benefits that align with their clients’ needs, goals, and risk tolerance. Advisory offers flexibility and choice amongst a wide array of financial products and services – with just one client fee, (based upon account assets), that covers both investment advice and trading costs. Lending & Banking products and services play an important role in managing clients’ wealth. Helping clients make borrowing decisions in the context of their larger financial strategy and goals may help them benefit from tax efficiency, lower borrowing costs and an integrated approach to planning.

I asked further on your question regarding points transfers from the Merrill Plus Card to the Premium Rewards card or another Bank of America card- you do have the ability to transfer points, but all Bank of America points are redeemed at a penny per point ($.01), as opposed to the Merrill Plus card, which allows redemption of 2 pennies per point ($.02) for airline tickets. Therefore, it is not beneficial for clients to transfer points (as you pointed out) to the new card, if they are planning on redeeming for airline tickets (if clients typically get redemptions in cash, the math will be the same, but they should probably be advised to redeem their points for airline tickets to get the same bang for your buck.

The American Express company also known as Amex, it is an American multinational corporation. The company was eventually started as an express mail business in Buffalo, New York. It was formed as a joint stock corporation through the merger of express companies owned by Henry Wells( Wells Company), William G. Fargo (Livingston, Fargo and company)and John Warren Butterfield (Wells, Butterfield and company).