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
This bank allows criminals to cash altered checks by a mobile app!!
People shouldn’t look at the employees as the bad guy in the situation, which the bank will make them seem like they’re he are the ones causing the problem. The banks require their employees to hit certain commission goals, and will not incentivize their employees when those goals are hit unless the employees acquire a certain amount of accounts Consecutively each month. This prevents a lot of people who’s earned thousands of dollars in commissions to receive nothing any commission at all, but only their base salary which is close to minimum wage.
I been a victim because they take a will to withdraw the money I spend and when I get paid from work is when the money get all discounted . And I been double tipped
I almost went to BOA but went to TD In stead 😅
This was going with my savings account and I close my savings account. I only have a checking account with BOA. The funny thing is I decided to switch a week ago. I still have the bank account but I went to another bank.
So $35 back when it could have been $150-1000 of “stress,” “missed opportunities” or more.
Better than nothing i guess…
They’ll give each customer 7 dollars and call it a day
About freakin time!
Yes cause I need mines for all these fake accounts they let the scammers get away with anything
If this was any other individual citizen opening accounts under your name it would be considered grand larceny and be sent away for a long time. Who is going to prison for this?
I once was a Bank of America customer I want to investigate if they did this to me
“Trump style Banking!!”
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How can I talk to someone about my story about them years ago
Why would anyone still want to do business with these crooks?
My name is Sandy Williamson Rudiger, and I’ve had similar ABUSE with crooked USAA— including their employees deleting records, lying, etc— I write on instagram and fb about my nightmare, if anyone cares. Thanks- God bless each of you for exposing truths! 🤗
Isn’t this considered THEFT THEFT THEFT. Where have the watchdogs over financial I situations gone. Sleeping while being bribed. Forgive me for stereotypeing but (certain lawless whites people) in high places steal billions while they scrutinize and squeeze those who are lawful and may deserve some leeway. Hypocrisy just like during days of Christ. Same spirits of lawlessness in high places 90% never reach
These banks still haven’t learned. It was the consumers who bailed them out during the great recession & this is how they treat us. Its sickening !
Cost of doing business.
When is this payout? And how will you know if your one of the customers that was affected?.
Again?
More corruption
they did that to me back in 2008
*BofA is TRASH. So is Wells Fargo.*
How can I get my money
Bank of America frozen my employment account where’s my refund
It’s called Bank Of America for a reason…The United States is an Predatory Country against it’s own Citizen’s…This is the business model…Yet folks still bank with these clowns….😉👌🤡🤑
They did that to me when i couldn’t get myself on my feet. I can’t even rent a car without using this bank or so called well known banks
Boy. They definitely owe me some bands
Haha how corrupt the judicial system is.. this bank changed certain rules with respect to savings account and as we all make things paperless, the message went unnoticed since those details were a link in that email.. and the bank withheld almost 200 dollars over a period of time. The banking ombudsman is in fact a hand in glove and even after submitting all necessary documents, didn’t act. As a common man who will go to court especially with those exorbitant lawyer fees to chase a 200 dollar? It’s a shame this is happening in a country that calls itself a superpower.
May I get a million?
Bruh 😮
B**** Better have MY Money$$
How the Bank of Maerica did . How about you individually do this ? Are you going to Jail or Not ?
Looks like they didn’t donate to the government as much as others.
Fraud and too many people with the same names. Obama co-signing on fraud. Too many liars are in America. Everybody in the state of California owes me money. The police and state authorities are committing crimes against me and my children. Breaking the laws they wrote and with no remorse and disregards for human life. A conspiracy of unbiblical proportion.
When the FBI has completed their investigation I can receive my check for nine billion dollars + pain and suffering. The whole lot are criminals.
Sir Lucifer The Great the only person who you can trust.
Chip change for them, they probably took much more than $100M
For the people who still use Bank of America, you deserve it! They been doing these shady business tactics for decades..Nothing new!
I never got a NSF from Boa, but I have noticed for a long time they reduced the cash back rewards and I never knew what happened.. but companies do this all the time. Even 7-11 rewards were reduced about 4 years ago.. I didn’t know a company could be fined for reducing reward programs.
THE FEES?THEY CHARGE FOR PEOPLE GIVING YOU THEIR MONEY!!!! WE PAY FEES?FOR PAYING WITH THEIR CARD TO PAY OTHERS!!! NO#!!! EVERYBODY JUST PAY CASH FOR WHATEVER IS NEEDED!!! WE ALL MESSED UP BY HIVING THEM POWER TO DISTRIBUTE OUR MONEY!!!! THEY CONTROL HOW?YOU SPEND & TAKE OUT!!!!! EVERYONE STOP!!!! SAME WITH IRS NOTHING BUT CROOKS!!!!! TAXES NOTHING BUT CRIMINALS TAKING MO EY FROM ALL!!!!
I need to cancel mine. I have been feeling like they steal my money. I only use it for bills but Iam defenatly going to cancel now.
bank of america is seemingly always involved in a scandal or another smh 👎
If I was overdraft 3 times and paid for my overdraft fee I’m I eligible to place a lawsuit?
Bank of America:🗣️”Be on the lookout for your $1 settlement check in the mail coming soon!”😂
I used to work for Bank of Bank till 2021 as a Banker and all what they’re saying is true. I can’t tell you how many clients I had to help reserve those $35 fees during the lockdown. But trust me, the money they made this fine isn’t enough.
How far back can you go, because they set me up back in the day
The only people getting paid out are the lawyers.
I had a account with them, around that yr, they were charging, me fees, I don’t know how do I get what I info get money they
Pure greed
So you’ll get $15 back.
About $50 to each person!
Do I get my $35 bucks back or is it going to be a penny?
This is why I left BOA
Yes I was was a victim of the saying scandal when you call Bank America and ask them about it they act like they don’t know nothing about it that’s why my account is now in fraud
This is why I do most of my banking locally, mostly at my credit union, and still check my monthly statements.
I BEEN SAYING THIS FOR OVER A YEAR NOW THAT BOFA IS A SCAM AND USES OVERDRAFT AND MAINTENANCE FEES AS A WAY TO STEAL MONEY FROM THEIR CUSTOMERS LIKE ME AND MY WIFE! THEY TAKE THE $12 MAINTENANCE FEE 2 DAYS EARLY SO ITS BEEN MULTIPLE TIMES WHERE I WAS ABOUT TO LOAD MONEY ON MY ACCOUNT ONLY TO FIND IM NEGATIVE $12 SO NOW I HAVE TO GET EVEN MORE MONEY JUST TO NOT BE NEGATIVE!! THEY DO THIS EVERY SINGLE MONTH AND NO MATTER WHO YOU TRY TO CALL THEY SAY THEY CANT DO ANYTHING ABOUT IT! WHERES MY MONEY?!?!?
My mom bought 3 $2,000 CDs and within a year they locked her out of her account and she was never able to retrieve it. Over 2 decades ago.
Sorry: Mom was buying some land from her grandma, Gr8Grandma died during the transaction, she technically couldn’t respond to the transaction date, and the bank flagged her account and transactions as fraudulent. Gr8Gmas lawyers divied up the assets including the designated chunck of land. Ma never got the money she banked away for the purchase because it was on hold pending a transaction that was never going to happen. It came and passed, she couldn’t pay her dues and started to owe money to the bank. She never got paper proof of the deceased, so the bank never relented.
Weird times. Texas was a wierd place in the 90s. Couldn’t prove your existence, couldn’t prove you died.
What did they say was the reason? They just zeroed out the CD’s?
BOA said publicly that they would release info of its customers to the fed’s. Serves them right! Don’t do business with them unless you want the government to know all!
I DID get hit with these fees, and i had to spend HOURS on the phone arguing that I did not approve the amount 3 TIMES… They made me call back repeatedly every time another fee popped up…
Why do ppl keep using BOA especially EDD
Aw man, I hate when I see this on the news before I get my 75 cents. It’s so much more exciting when it’s a surprise. It’s like finding the quarters on the ground, vs it being given back to you as change.
Bank of america should never have been bailout back in 2008.
Where can I apply
BofA has always been slimey
Are they sending checks out or it will be automatically deposited into the bank account?
I am not a customer but they did illegally open an account in my name .would they have to compensate me as well.
Bank of America is the WORST bank in America.
that’s like me being ordered to pay a $1
What about chase amd wells fargo?! They’re also on some BS!
Don’t put up with a bank that treats you like an ATM. Assuming you don’t live in some rural farm town, the only one who can keep you from changing banks is you.
Here’s our favorite story of the day.
Everyone get $2.
I closed my BoA account after the teller deposited my money into the wrong account and the bank told me I had no choice but to approach the person and ask for my money back. Luckily it was my mom’s account – I was making a deposit for both of us – but that just seemed outrageous, especially since I caught her mistake within seconds of receiving the receipt. And it was her error as I filled the paperwork out correctly. Thank goodness it wasn’t a deposit for a contracted service or business; could you imagine if it was an unscrupulous friend or ex? It was literally my entire month’s pay.
BoA customers get what they deserve. I left them 19 yrs ago.
Do people understand how damaging unethical practices really are? Imagine competing in the workplace and your counterpart is cheating by breaking the law. How are you going to now survive? This common practice we see happening more often than ever, fraud in the workplace, is literally destroying the world and only those that can pay the bill get to survive.
Washington mutual/ wells Fargo does the same
“It’s only 600 bucks.”
I’m sure the Consumer Financial Protection Bureau shares the same views.
Sad that they would take advantage of their bankers like this smdh
BOA receiving bailout money and gives their senior officers bonuses when everyone else is suffering. Now we’re hearing multiplying fees, creating fake accounts to meet quota, and withholding rewards from customers. Is it really a bank?
I’ll be waiting for my check in the mail and they better hurry up. Don’t care if it’s only 35 dollars.
switch banks
I had a bank america account, and my account,money were stolen and I kept telling them someone were stealing money,yes I had receipt from 2012 and longer.
I hate BoA
So that means I’m gonna be 35 cents richer oh brother!
TD bank needs an investigation
wells fargo repeat? history repeats itself……..
Leave your bank and go to a credit union
I have Bank of America before and during pandemic the overdraft fees was crasy you have 12hour to pay overdraft not 24 like Chase on those days 😒
Expect a check in the amount of .38cents
Where is my money
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Consumers get one dollar each politicians and attorneys split the rest!
If you don’t move your account(s) from Bank of America (and Wells Fargo) you deserve everything they do to you. There are PLENTY of reputable financial institutions with which to bank.
I have bad experience BOA in 2021 their atm machine swallowed my card i left no money. They charged me 700$ transaction. They denied my case after a month. I ask Y they nt check cams. They say tht is old footage. 😡.
They were doing whatever they could try to get away with ripping off people.