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- The Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) said the bank had a faulty fraud detection program that improperly froze the prepaid card accounts of thousands of people seeking jobless benefits in 2020 and 2021.
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Jul 14, 2022 · Bank of America has been fined $225 million by a pair of U.S. banking regulators over what they called a "botched" handling of jobless benefits during the pandemic.
Jul 14, 2022 · Federal banking regulators fined Bank of America on Thursday after finding its fraud filter unlawfully froze customers’ prepaid unemployment insurance benefit accounts, leaving “distressed ...
- Julie Coleman
Jul 15, 2022 · The Office of the Comptroller of the Currency on Thursday ordered the nation's second-largest bank to pay $125 million and compensate those hurt by unfair and deceptive practices related to a ...
- Reporter
- 3 min
Jul 14, 2022 · WASHINGTON (Reuters) -Bank of America has been fined $225 million by a pair of U.S. banking regulators over what they called a "botched" handling of jobless benefits during the pandemic.
Jul 14, 2022 · The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) have fined Bank of America $225 million for botching the disbursement of state unemployment benefits at the height of the pandemic.
Jul 14, 2022 · Federal regulators fined Bank of America $225 million for "botching the disbursement of state unemployment benefits at the height of the pandemic," the subject of a CNBC investigation last...
Jul 14, 2022 · Bank of America fined $225M over ‘botched’ disbursement of unemployment benefits. Published July 14, 2022. Anna Hrushka Senior Reporter. A person uses an ATM at a Bank of America branch on July 28, 2009 in Pasadena, California. David McNew via Getty Images. Dive Brief:
