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www.bettermoneyhabits.com In 2013, the American Customer Satisfaction Index ranked Bank of America (BAC) below JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC) for overall customer satisfaction. A 2012 J.D. Power report on mortgage lenders ranked Bank of America dead last out of a field of 14 contenders. And a poll of banking customers conducted in 2013 -- this time asking customers their opinions of 30 banks -- came to precisely the same conclusion. So, what's a bank to do when its reputation is this deep in the dumper? The first step should obviously be damage control -- burnishing the bank's reputation by any means possible. And the second step ought to be taking action to address the reasons that customers hate the bank in the first place. Bank of America's recent alliance with Khan Academy accomplishes both of these things. Khan Gets Kudos Few websites boast a reputation as good as that of Khan Academy, the totally free, nonprofit site that former hedge fund analyst Sal Khan set up in 2006 to help teach kids (and adults) about everything from basic mathematics to the Federal Reserve's policy of quantitative easing. PCMag.com rates Khan Academy 4.5 stars (out of 5) as "a place where you can learn, or simply refresh your learning, in dozens of subjects." Yelp.com (YELP) gives Khan 4.5 stars, with one reviewer exclaiming: "I wish I could give it 10 stars." So when Bank of America teamed up with Khan Academy last April to build bettermoneyhabits.com, it picked the right "halo" to bask in. The substance looks pretty good, too. In a release announcing the site's opening, Bank of America boasted that its new website would offer "free, self-paced, easy-to-understand resources to develop better money habits" -- and would provide these resources not just free but also "commercial-free." And the website's open to anyone, not just Bank of America customers. From Bad Reputation to Good, Untainted Advice
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