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Bank of America accused of opening fake accounts and charging illegal junk fees

Published Tue, 05 Nov 2024 16:41:00 GMT

New York (CNN) — Federal regulators accused Bank of America on Tuesday of harming customers by double-dipping on fees, withholding credit card rewards and opening fake accounts.The Consumer Financial Protection Bureau ordered Bank of America (BAC) to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the Currency also ordered Bank of America (BAC) to pay $60 million in fines.Some of the allegations are reminiscent of the Wells Fargo scandal last decade that involved opening millions of bank accounts without customer authorization.“Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” CFPB Director Rohit Chopra said in a statement. “These practices are illegal and undermine customer trust. The CFPB will be putting an end to these practices across the banking system.”Bank of America did not immediately respond to a request for comment.

Bank of America to pay more than $100M for doubling fees, opening accounts without customer consent

Published Tue, 05 Nov 2024 16:41:00 GMT

Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the OCC, the Consumer Financial Protection Bureau said Tuesday. The Office of the Comptroller of the Currency found the bank’s double-dipping on fees was illegal. Bank of America, based in Charlotte, North Carolina, serves 68 million people and small business clients. The bank had $2.4 trillion in consolidated assets and $1.9 trillion in domestic deposits as of March 31, making it the second-largest bank in the U.S.Bank of America had a policy of charging customers $35 after the bank declined a transaction because the customer did not have enough funds in their account, the CFPB said. The agency determined that the bank double-dipped by allowing fees to be repeatedly charged for the same transaction.The bank said that it ...

Japan’s top court says government restrictions on transgender employee’s use of restrooms illegal

Published Tue, 05 Nov 2024 16:41:00 GMT

TOKYO (AP) — Japan’s Supreme Court ruled Tuesday that restrictions imposed by a government ministry on a transgender female employee’s use of restrooms at her workplace are illegal, in a landmark decision that could promote LGBTQ+ rights in a country without legal protections for them.It was the court’s first ruling on the working environment for LGBTQ+ individuals.The judges said in a unanimous ruling that the Economy and Trade Ministry’s restrictions, which forced the plaintiff to use either a nearby men’s room or women’s restrooms that were at least two floors away, were “extremely inappropriate.” It said the approval of the restrictions by the National Personnel Authority, which is supposed to serve the interests of government employees, was “illegal” and an “abuse of power.”The victory by the plaintiff, identified only as a transgender woman in her 50s who is a ministry official, was good news for the LGBTQ+ community in Japan, the only membe...

Zelensky says NATO’s ‘absurd’ plans for Ukraine fall short

Published Tue, 05 Nov 2024 16:41:00 GMT

VILNIUS, Lithuania (AP) — Ukrainian President Volodymyr Zelenskyy on Tuesday blasted as “absurd” the absence of a timetable for his country’s membership in NATO, injecting harsh criticism into a gathering of the alliance’s leaders that was intended to showcase solidarity in the face of Russian aggression. The broadside from Zelenskyy could renew tensions at the summit shortly after it saw a burst of goodwill after Turkey agreed to advance Sweden’s bid to join NATO. Allies hope to resolve the seesawing negotiations and leave Vilnius with a clear path forward for the alliance and its support for Ukraine.Officials have drafted a proposal, which has not been publicly released, on Ukraine’s potential membership. U.S. President Joe Biden expressed support during a meeting with NATO Secretary-General Jens Stoltenberg, but Zelenskyy wrote on Twitter that he was not satisfied.“We value our allies,” he said but added that “Ukraine also deserves respect.”“It’s unprecede...

Vote to oust RoseAnne Archibald ‘not taken lightly,’ AFN interim chief tells leader

Published Tue, 05 Nov 2024 16:41:00 GMT

HALIFAX — The interim chief of the largest First Nations advocacy organization says a vote to oust the former national chief “was not taken lightly.”Joanna Bernard, regional chief from New Brunswick serving temporarily in the role, addressed the Assembly of First Nations during its annual gathering in Halifax for the first time since RoseAnne Archibald’s dramatic removal. Archibald, the first woman elected to lead the assembly in 2021, was voted out during a recent special chiefs assembly held to address the findings of an investigation into five staff members’ complaints against her conduct.She released a statement before the gathering saying she would attend the first day virtually but may travel to Halifax for the rest of the meeting, which runs through Thursday. Bernard told chiefs in her speech today that Archibald’s removal puts the organization in a period of transition, but says it has overcome many challenges before.  She says as interim chief,...

Stock market today: Wall Street edges higher ahead of this week’s inflation report

Published Tue, 05 Nov 2024 16:41:00 GMT

NEW YORK (AP) — Stocks are edging higher in early trading as Wall Street waits for updates later in the week on inflation and corporate profits. The S&P 500 was up 0.2% early Tuesday and looks to be on track for another quiet day after a listless Monday. The Dow was up 164 points, or 0.5%, and the Nasdaq composite was up less than 0.1%. The week’s main event arrives Wednesday when the government offers the latest update on inflation in consumer prices. The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop raising interest rates.THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street ticked modestly higher early Tuesday ahead of new U.S. inflation data that will play a role in a decision by the Federal Reserve on interest rates when it meets later this month.Futures for the Dow Jones industrials rose 0.1% and the S&P 500 edged 0.2% higher before the opening bell.For the first time in more than a year, th...

Southbound surges of U.S. agents causing delays, ‘disarray’ at Canada-U.S. border

Published Tue, 05 Nov 2024 16:41:00 GMT

WASHINGTON — Members of Congress are growing concerned about what they say is a shortage of agents on the southern side of the Canada-U.S. border. New York Democrat Rep. Brian Higgins says Customs and Border Protection personnel are being temporarily reassigned to help fortify the U.S. border with Mexico. Higgins says as a result, busy points of entry along the Canada-U.S. border are seeing longer delays and unstaffed kiosks. He says that’s despite the fact that cross-border traffic between Ontario and New York is still only about 85 per cent of what it was before the COVID-19 pandemic. Republicans are also worried and several wrote to CBP last month to request details about staffing levels amid fears that illegal crossings are on the rise.A spokesman for Montana Rep. Matt Rosendale says the department has yet to respond to the request.This report by The Canadian Press was first published July 11, 2023.The Canadian Press

All 6 aboard helicopter carrying Mexican tourists are killed in a crash near Mount Everest in Nepal

Published Tue, 05 Nov 2024 16:41:00 GMT

KATHMANDU, Nepal (AP) — All six people on board a helicopter carrying Mexican tourists were killed when it crashed Tuesday near Mount Everest in Nepal, authorities said.The helicopter crashed in the Lamajura area. All the bodies were recovered and flown out of the area, said Basanta Bhattarai, the chief government administrator in the area.The five tourists were Mexican nationals and the pilot was Nepalese, the Civil Aviation Authority of Nepal said in a statement. The Mexicans included two men and three women.Two rescue helicopters were used to fly the bodies out of the crash site and then to the capital, Kathmandu. Doctors were expected to perform an autopsy before the bodies are handed over to relatives, or in case of foreigners, to embassy officials.The aircraft was returning to Kathmandu on Tuesday morning after bringing the tourists on a sightseeing trip to the world’s highest peak.It wasn’t clear what caused the crash. Weather conditions had caused the helicopter’...

A look at Luis Robert Jr.'s first Home Run Derby

Published Tue, 05 Nov 2024 16:41:00 GMT

SEATTLE — For the first time in six years, a White Sox player took part in one of the more celebrated events of Major League Baseball's All-Star Game.Luis Robert Jr. was able to put on a show for a few rounds at T-Moblie Park in the Home Run Derby, though his quest for a win in the event did come up short. The first-time All-Star was able to advance to the semifinals of the event before eventually falling to Randy Arozarena of the Rays, who subsequently was defeated by the Blue Jays Vladimir Guerrero Jr. in the final for the title.It was Robert's first appearance in the Home Run Derby and the first for the team since Todd Frazier participated in the event in 2016 in San Diego. (Photo by Tim Nwachukwu/Getty Images)As the No. 1 seed, Robert took on Adley Rutschman of the Orioles and watched the catcher hit 27 homers to start off his night. But the White Sox outfielder was able to beat him with 28 long balls, with his longest traveling 470 feet with an average distance of 426 feet. Tha...

Part of Clark Street downtown closed for outdoor dining through Halloween

Published Tue, 05 Nov 2024 16:41:00 GMT

CHICAGO — Part of Clark Street downtown is closed beginning Tuesday through Halloween due to the city's outdoor dining program.Clark Street between Grand and Kinzie will be closed to vehicle traffic. The move will allow more than a dozen restaurants to expand operations into the street for guests to dine outdoors.Restaurants will begin serving patrons Wednesday through Halloween, when the permit expires.East-west streets, including Grand Avenue, Illinois Street, Hubbard Street, and Kinzie Street, will remain open to vehicular traffic. A 15-foot pathway will run along the center of Clark Street for people walking and biking to enjoy the area and allow for emergency vehicle access. Top 5 Italian beef sandwiches in Chicago area — according to Chicagoans The outdoor dining program first came to Chicago during the pandemic. In June, this closure was approved by city council.