Tag Archives: Bank of America

The Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency have imposed $225 million in fines against Bank of America for “botching” the disbursement of state unemployment benefits in 2020 and 2021 during the “height” of the COVID-19 pandemic. A copy of the Consent Order can …

The Consumer Financial Protection Bureau is asking each of the nation’s six largest credit card lenders why they are choosing to not include the amount that their customers pay each month when furnishing information to the credit reporting agencies, saying that the practice has the potential to suppress consumers’ credit …

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Bank of America, in which the nation’s second-largest financial institution will pay a fine of $10 million after it was accused of unlawfully garnishing $592,000 from its customers’ bank accounts. A copy of the settlement order can be accessed …

A group of 18 state attorneys general sent letters to four of the largest financial institutions in the country this week, urging them to stop charging overdraft fees on consumers by this summer, and while the states did not make any threats in the letter about what would happen if …