Bank Of America Must Pay $225 Million After Mishandling Pandemic Debit Cards


Bank of America has been fined $225 million for bungling the distribution of unemployment benefits during the pandemic. The bank will now have to payback over 100,000 people in 12 states.

On Thursday, the Office of the Comptroller of the Currency decided that the country’s second-largest bank will pay $125 million. This will compensate those affected by unjust and unethical practices in connection to a prepaid card program.

Bank of America has also been fined by the Consumer Financial Protection Bureau for another $100 million. This is for “botching the disbursement of state unemployment benefits at the height of the pandemic.”

The bank is accused of having a faulty fraud detection program that froze the accounts of thousands of individuals looking for unemployment benefits in 2020 and 2021.

What’s more, regulators claimed that the bank made it hard for people to unfreeze  their cards. They also understaffed their call locations, resulting in people spending hours on hold in attempt to address the issue.

As part of the decision, the bank will have to implement a remediation plan to name affected customers and decide how much they will get paid.


  1. Thanks for one’s marvelous posting! I actually enjoyed reading it, you could be a
    great author. I will always bookmark your blog and will often come
    back very soon. I want to encourage you to continue your great work,
    have a nice weekend!

  2. When I initially commented I clicked the “Notify me when new comments are added” checkbox and now
    each time a comment is added I get four emails with the same comment.
    Is there any way you can remove me from that service?


  3. Thanks , I’ve just been searching for info about this topic
    for a while and yours is the best I’ve found out so far.
    But, what about the bottom line? Are you sure in regards to the source?

  4. Thank you, I’ve recently been looking for info about this subject for
    a long time and yours is the best I’ve came upon till now.
    But, what concerning the conclusion? Are you certain concerning the supply?

  5. Thank you for the auspicious writeup. It in reality used to be a enjoyment account it.

    Look complicated to far delivered agreeable from you!
    However, how can we keep in touch?

  6. I feel this is one of the most significant info for me.
    And i am glad reading your article. But want
    to commentary on some normal things, The web site
    style is great, the articles is truly excellent :
    D. Good task, cheers

  7. I used to be suggested this blog by means of my cousin. I’m not positive whether this put up
    is written by way of him as nobody else recognize
    such specific approximately my difficulty. You are amazing!

    my homepage: comprar vardenafil en Chile

  8. Hello there! I know this is somewhat off topic but I
    was wondering if you knew where I could get a captcha plugin for my comment form?
    I’m using the same blog platform as yours and I’m having trouble finding one?
    Thanks a lot!

    Feel free to surf to my web blog: sildenafil 100 mg en vente en ligne

  9. constantly i used to read smaller articles that as well clear their motive, and that
    is also happening with this post which I am reading now.

    Stop by my page – Devin

  10. What i don’t understood is in reality how you’re no longer really a lot more
    well-appreciated than you might be right now.
    You are very intelligent. You know thus considerably in terms of this subject, produced me
    individually consider it from a lot of numerous angles.
    Its like women and men don’t seem to be interested until it is one thing
    to accomplish with Girl gaga! Your personal stuffs outstanding.
    All the time deal with it up!

    Check out my page :: hiburan 138 slot

  11. It’s actually a great and helpful piece of information. I am happy that you simply shared this useful information with us.
    Please stay us up to date like this. Thanks for sharing.

    Visit my page; ads508

  12. Hi there, I discovered your web site via Google
    whilst looking for a similar matter, your website came up, it seems great.

    I’ve bookmarked it in my google bookmarks.
    Hi there, simply became alert to your blog via Google,
    and found that it is really informative. I’m gonna watch out for brussels.
    I’ll appreciate in case you continue this in future. Many other
    people can be benefited from your writing. Cheers!

    Look into my website :: ips77

Leave a Response