What would Bank of America look like if it were owned by its customers?
YourBofA.com, a parody site launched this week, lets the crowd take a stab at answering that question. Mimicking the real Bank of America site's look, it takes scathing aim at the bank's missteps and invites visitors to share their ideas about what a taxpayer-owned Bank of America should do. Several thousand contributors have already sent in suggestions.
The site's creator is Yes Lab, an organization that helps activist groups launch what it calls "media-getting creative actions."
America's second-largest bank was an obvious target, Yes Lab director Andy Bichlbaum says.
"Bank of America is sort of the low-hanging fruit," Bichlbaum told CNNMoney.
The bank is part of the recent $26 billion settlement with federal and state governments over "robo-signing" and other abusive foreclosure practices. Last year, it struck a deal with the Justice Department and agreed to pay $335 million to settle discriminatory lending charges.
A spokesman from Bank of America emphasized that the YourBofA.com site is not affiliated with the company.
"We have no other comment," he said.
In collaboration with activists from Occupy Wall Street, BreakUpBofA.com, the Rainforest Action Network and others, the Yes Lab crew worked on the site concept over the past three months. It launched Thursday morning, coincidentally coinciding with Bank of America's latest earnings report, during which the bank revealed a $653 million profit in its latest quarter.
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