The Consumer Financial Protection Bureau says Bank of America must pay customers more than $100 million after it was discovered that bank employees had withheld reward bonuses and opened accounts without customer consent. NBC News’ Jacob Ward outlines who is entitled to compensation.
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#BankOfAmerica #CFPB #Bank
source
I only bank with cash app
But what do we actually need to do as a consumer? I have had to pay those fees, so I'm guessin' I'm a potential recipient.
A BS verdict when the judge is most likely paid off or benefited from connections. A fine of at least $1B is more fitting for the crimes. BoA is one of the most evil banks in US. I only bank with credit unions.
If corporations are people too, then some people should be going to prison.
Lol people still bank with BOA, Wells Forgo and Chase?
This is why I left Bank of america. Are they gonna send me a check for all the money they stole for me. Even though I'm no longer a customer.
SEND ME A ME A PAPER CHECK ! IM A 15 YEAR CUSTOMER
BOA GOT GOOD SERVICE BUT I DIDNT KNOW ALL.OF THIS WAS GOING ON
CAN REQUEST A PAPER CHECK ? YOU WONT KNOW BY ADDING IT TO YOUR EXSUTING ACCOUNT !
DOES THAT THE INCLUDES THE CASH PAY CARD ! THE GREY AND WHITE ONE I HAD IN 2018 IT MIGHT BE MONEY IN TH
I BEEN WITH BANK OF AMERICA FOR 15 YEARS AND STILL WITH THEM I CAN USE A FEW BUCKS ! WOW
Bank of America, Fairwind, Wells Fargo; i would rather store my money under my matress than to use their service.
They were charging crazy fees. That’s why I left!
This just goes to show if you have a lot of 💰💰💰 you can buy your freeDUMB!
All these banks need to be checked as well seems they are all screwing us
Capitalism is a scam.
Uhmm interesting I going to claim $1000 millions for demages to Chase and Wells Fargo banks
Good
Just don't get caught and they did. GREED! Change the laws and send them to prison.
I'm really surprised at Bank of America.
I've been with them for 29 years.
I hope I get back some of what I might have been overcharged.
Any guesses on the average payout amount per customer?
That’s a pitiful penalty considering the profits made. Welcome to late stage capitalism folks.
Hi CNBC, I thought a loyal BofA's private client services went a long way for consumers? Thanks to BofA's policy, even too redeem, once again a private bank to loose $100M in terms of overdraw fees… Precluding, an extra $150M insignificantly for misuse of credit rewards, and the assessing of variable accounts? Then an adequate $80M to insenuate consumers…. inability to use responsible accountability? @Thanks America…. @BofA
FACTS
$150 million dollar payments = $4 settlement check in the mail.
They profited billions and only required to pay $100M to customers and $150M fine? Banks will take that deal every time.
Bank of America is the WORST. I was closing a BOFA account, but knew that I had at least one pending transaction. I went to the bank and asked if it had cleared yet. They said yes, so I zeroed out the account. One month later, I get a notice of an overdrawn account and all sorts of overdraft fees and fees and fees. They LIED to me knowing FULL WELL that the transaction hadn't cleared in order to glean money from me. I never paid it. And never will. That can stick on my credit report until the day I die.
Dang, now we know how they could afford to give out so many sub prime loans yet again
Wanna bet that their average customer will probably get a $4.00 check from them☹️
When wells Fargo got in trouble for similar things, I got a $28 check. The lawyers and the government got millions
That breaks down to about 1$ to each B of A customer 😕…
Yay, I’ll get $2! I’ll try not to spend it all in one place! 😂
😂😂😂😂run me my money back now
I guess they didn't learned from Wells Fargo s greed. Way to go Corporate America
Worst bank 🏦 in America is BANK OF AMERICA
Drop in the bucket, rounding error…. I am sure that will make them change their behavior
Chase also does this