Bank of America faces $225 M fine over mishandling unemployment benefits
Bank of America faces $225 M fine over mishandling unemployment benefits
- Jul 15, 2022
- 453 views
- 0 comments
-
Share
According to the Consumer Financial Protection Bureau, due to a faulty fraud detection program, Bank of America froze accounts. It stymied customers who sought to have them unlocked, cutting people off from desperately needed funds in 2020 and 2021. Rohit Chopra, director of the consumer bureau says, "Taxpayers relied on banks to distribute needed funds to families and small businesses to rescue the economy from collapse when the pandemic hit." Bank of America failed to live up to its legal obligations. And when it got overwhelmed, instead of stepping up, it stepped back."
Meanwhile, Bank of America said that the problems stemmed from state systems besieged with fraudulent claims. Bill Halldin, a spokesman for the bank said that the pandemic “created unprecedented criminal activity where illegal applicants were able to get states to approve tens of billions of dollars in payments."
Source: The New York Times
- 453 views
- 0 comments
Tags In
HIVYou might also like
Best tech jobs in the United States : BLS data
- Sep 06, 2022
- 1396 views
- 0 comments
For several reasons, the IT sector is appealing to job seekers. ...Read more
Salaries for Californian fast food employees might rise to $22 per hour
- Sep 06, 2022
- 853 views
- 0 comments
Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more
Workers leave as job dissatisfaction grows
- Aug 17, 2022
- 1432 views
- 0 comments
Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more
Microsoft offers graduates from African nations job prospects in the US & Canada
- Aug 17, 2022
- 840 views
- 0 comments
New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more
Casper is hiring professional sleepers
- Aug 10, 2022
- 1438 views
- 0 comments
A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more
Category
-
Disaster Preparation & Response
-
Hiring & Firing
-
Salary Surveys
-
Privacy
-
Communication
-
Talent Acquisition
-
Global Mindset
-
Organization & Employee Development
-
Contemporary Issues
-
Leave Management
-
Disability Benefits
-
Promotion
-
Employee Data Privacy
-
Open Enrollment
-
Gender Identity
-
Leadership Development
-
Background Checks
-
Fiduciary Duty
-
Social Media
-
Drug & Alcohol Testing
-
Termination
-
Records & Reports
-
Ethical Practice
-
Retirement & Recognitions
-
Electronic Records Management
-
Workers' Compensation
-
Policies & Practices
-
Firing
-
Artificial Intelligence
-
Benefits Reporting & Disclosure
-
Discrimination
-
Onboarding
-
Leadership &
-
Raise
-
Payroll
-
Workplace Stories
-
Disability Accomodations
-
Inclusion, Equity & Diversity
-
Employee Handbooks
-
Unemployment Benefits
-
Employee Surveys
-
Vendors & Software
-
Bonuses & Incentives
-
Teamwork
-
Workplance Violence
-
Investigations
-
Workplace Harassment
-
Communicable Diseases
-
People Management
-
Workplace Culture
Articles
If your organization is on a hiring spree too, one of the key things to consider is the recruitment ...Read more
If you’re looking forward to shifting from remote to in-office work, here are a few ways to cope wi ...Read more
Remote working is not a new thing in the US but a lifesaver in the current situation when social di ...Read more
One of the key responsibilities of HR teams is to ensure a diverse workplace and manage it effectiv ...Read more