Posts Tagged ‘Bank of America’
Bank of America Culture Failure
Compliance professionals looking for a fresh case-study in corporate culture dysfunction, turn your eyes to Bank of America! This week news broke that BofA is still plagued by junior bankers literally working themselves into an early grave — 10 years after the bank vowed to change its ways due to rampant overwork. Who knew change…
Read MoreA $12M Lesson on Data Analytics
The Consumer Financial Protection Bureau has fined Bank of America $12 million for failing to supply accurate data about home mortgage applications, in a case that provides some fascinating lessons about the importance of data analytics and auditing your compliance program. The CFPB announced its enforcement action on Tuesday, and at first glance the case…
Read MoreBank of America Nailed on Bogus Accounts
Astonishing: Bank of America has agreed to pay more than $150 million to settle civil charges that its employees engaged in various unethical practices with customers in the 2010s, including allegations that Bank of America had its own unauthorized customer account scandal — one that continued for years after Wells Fargo was nailed for the…
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