Tag: Bogus Accounts
-
Bank of America Faces $250 Million Penalty Over Bogus Accounts and Financial Wrongdoings, Says Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) announced on Tuesday that the banking giant will pay a total of $250 million in penalties for having bogus accounts, with $100 million to be refunded to affected customers. Bank of America has been accused by federal regulators of engaging in fraudulent activities, including the creation of bogus accounts,…