BofA deeze nutz
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Why can’t the Biden Administration understand that executives at Bank of America are just trying to keep the money of horrible little non-millionaires out of the grubby paws of horrible little non-millionaires?
Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations of various consumer financial protection laws.
As a result, the Consumer Financial Protection Bureau ordered Bank of America (BAC) to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the Currency also ordered Bank of America (BAC) to pay $60 million in fines.
It is very important to keep Republicans in power so banks can continue to take money from people who have proven they don’t deserve money by not having enough money to benefit from the tax breaks Republicans in office create for rich people.
As a result of the violations regulators announced Tuesday, Bank of America will be on the hook to pay the agencies and the customers who were harmed over $250 million in total.
But this is not the first time the bank has been hit with regulatory fines. And those reported Tuesday are smaller than earlier ones. In 2014, it was ordered by the CFPB to pay $727 million in redress to consumers for illegal credit card practices. Last year it was ordered to pay a $10 million civil penalty pertaining to unlawful garnishments and it was further ordered to pay $225 million to consumers for “botched disbursement of state unemployment benefits at the height of the COVID-19 pandemic.”
No wonder former BofA COO Tom Montag donated more than $650 thousand to Republican campaigns in 2020.
People who post off-topic comments have a shrine to Tom Montag in their bedroom.
