Bank of America was penalized $225 million by federal regulators for “botching the distribution of state unemployment benefits at the height of the pandemic.”
In a separate decision, the Office of the Comptroller of the Currency is fining the bank $125 million in addition to the $100 million fine imposed by the Consumer Financial Protection Bureau on the company.
“Bank of America automatically and unlawfully froze people’s accounts with a faulty fraud detection program, and then gave them little recourse when there was, in fact, no fraud,” said the Consumer Financial Protection Bureau (CFPB).
https://dailyheadlines.com...
In a separate decision, the Office of the Comptroller of the Currency is fining the bank $125 million in addition to the $100 million fine imposed by the Consumer Financial Protection Bureau on the company.
“Bank of America automatically and unlawfully froze people’s accounts with a faulty fraud detection program, and then gave them little recourse when there was, in fact, no fraud,” said the Consumer Financial Protection Bureau (CFPB).
https://dailyheadlines.com...
ALERT: Bank Of America Has Been FINED 225 Million Dollars For….. – Daily Headlines
Bank of America was penalized $225 million by federal regulators for “botching the distribution of state unemployment benefits at the height of the pandemic.” In a separate decision, the Office of the Comptroller of the Currency is fining the bank $125 million in addition to the $100 mil..
https://dailyheadlines.com/alert-bank-of-america-has-been-fined-225-million-dollars-for/?utm_source=Mailer%20DH.COM&utm_medium=email&utm_content=subscriber_id:114632956&utm_campaign=DH.com%207-18%204p%20dan%20rerun%207-25%2010a%20(Duplicate%20%233)%203
10:43 AM - Sep 23, 2022
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