- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-05-04T20:12:00
The Consumer Financial Protection Bureau fined Bank of America $10 million for processing “unlawful” garnishments of customer accounts dating back to 2011.
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Bank of America agreed to pay approximately $230 million to settle charges levied by the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency over alleged junk fees, withheld credit card rewards, and the opening of fake accounts.
Bank of America has set aside $200 million in anticipation of an enforcement action related to unauthorized use of personal devices—an area in which U.S. regulators are cracking down.
A pair of regulators slapped a total of $225 million in fines on Bank of America for failures related to unemployment benefit disbursements the bank made during the pandemic.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
