Bank of America has been ordered to cough up some coins, after failing to disburse state unemployment checks during the peak of the pandemic.
Regulators are now requiring the North Carolina-based bank to issue out back pay to those who didn’t receive their money, due to the bank’s actions. In addition, last week the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency issued fines totaling $225 million dollars.
Persons who’s money was withheld will not have to do anything to get their back pay. However, each customer can also apply for an additional lump sum payment. Reportedly, those who qualify will be contacted with more information about how to file a claim.
Blogged By: Bernie Oh!| @IamBernieOh