It will come as no surprise to many people that Bank of America (NYSE:BAC) has a cultural problem. Namely, it can't seem to behave.

Over the last few years, the banking giant been accused of a laundry list of misdeeds. Among other things, it has allegedly cheated retail and institutional customers, defrauded the federal and state governments, submitted forged documents in judicial foreclosure proceedings, and, most recently, manipulated bond and currency markets.

The question now is whether CEO Brian Moynihan can right the banking behemoth's ship. If he can, then the nation's second-biggest bank by assets stands a fighting chance of competing against better-heeled competitors such as Wells Fargo and US Bancorp. But if he can't, then shareholders should prepare themselves for yet another decade of disappointing returns.

In the video below, Motley Fool analysts Michael Douglass and John Maxfield discuss Bank of America's chances of success.