WASHINGTON—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. 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…
Bank of America Fined $225 Million for ‘Botched’ Disbursement of Jobless Benefits During Pandemic
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