Federal regulators are accusing Bank of America of opening accounts in people's name without their knowledge, overcharging customers on overdraft fees and stiffing them on credit card reward points.
Federal regulators are accusing Bank of America of opening accounts in people's name without their knowledge, overcharging customers on overdraft fees and stiffing them on credit card reward points.
The agency, which was launched in 2010 after the housing crash to protect Americans from financial abuse, also said Bank of America illegally accessed customer information to open sham bank accounts on their behalf. The allegation echoes a 2017 scandal involving Wells Fargo, whose employees were found to have of fake accounts for unsuspecting customers in order to meet unrealistic sales goals.
Bank of America also offered people cash rewards and bonus points when signing up for a card, but illegally withheld promised credit card account bonuses, the regulators said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
How Amazon's Prime Day will go and the likely stock reaction, according to Bank of AmericaThe Wall Street investment bank expects Prime Day will be stronger than last year.
Leer más »
Wall of waste: Biden ending Trump wall leaves border rancher with field of 'rusting' steelDEMING, New Mexico — Millions of dollars of steel are wasting away in the high desert after being neglected by the federal government for two and a half years since President Joe Biden halted Trump-era border wall construction.
Leer más »
TPG to buy Forcepoint unit from Francisco Partners for $2.45 billion, Wall Street Journal reportsBuyout house TPG is buying a business unit of software provider Forcepoint for $2.45 billion from Francisco Partners, the Wall Street Journal reported on Sunday citing people familiar with the matter.
Leer más »
House GOP treads lightly in culture war on Wall StreetWhile framing criticism of ESG as holding Wall Street to account, House Republicans appear to be picking spots where they’ll minimize friction with the financial services industry.
Leer más »
Fox News Viewership Tumult, Cord-Cutting Risk Leads to Wall Street Ratings DowngradeWells Fargo's Steven Cahall cut his Fox Corp. price target by $4 to $31, arguing that after the Tucker Carlson exit, 'while the new primetime lineup could drive a rebound, we think Fox News is a show me viewership story.'
Leer más »
Return to office, recession fears end Wall Street's Hamptons work-from-home partyIt's no longer 2020, and that respite from the relentless monotony of office life is over. lopezlinette says Wall Street must empty the beach and go back to the office. ⬇️ longreads
Leer más »