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RE: LeoThread 2023-12-03 20:39

in LeoFinance • last year


Bank of America To Pay $12,000,000 Fine for Repeatedly Breaking the Law, Sending False Information to Regulators #crypto #news #threadstorm 1/🧵

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    An agency has reported that Bank of America will be penalized with a 12 million dollar fine for submitting false data to federal regulators on numerous occasions. 2/🧵

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      Hundreds of BofA’s loan officers did not satisfy their obligation of asking mortgage applicants various demographic questions as required by federal law, said the CPFB. 3/🧵

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        Instead, the loan officers fraudulently reported that 100% of the mortgage applicants did not submit their demographic data for a three month- period.
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          By doing so, bank of America violated the Home Affordable Modification Program which is a federal law that has been followed by several thousand mortgage lenders in the past few decades. 5/🧵

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