Bank of America secretly opened accounts to customers for more than ten years, and was fined about 250 million yuan

Jimu Journalist Song Qingying

According to CNN reports on July 31, in order to achieve sales goals, Bank of America has opened accounts for customers without knowing the customer for more than ten years. The client was inexplicably "opened" the bank account, and the handling fee was also unknown. Recently, the Bank of America, which "concealed the sky", was fined $ 37.5 million (about 250 million yuan).

Bank of America (source: inside business)

The US Consumer Financial Protection (CFBP) said that after five years of investigation, it was found that the Bank of America put pressure on its employees and asked employees to sell bank products to achieve sales goals. Under the high -pressure sales task, the bank's employees have not visited customer personal data illegally, and have not opened deposit and credit card accounts without customer authorization.

Regulatory agencies have found that these accounts opened by banks to customers have high interest rates and high handling fees, and customers have been "paying" in unknowingly in recent years.

The CFBP survey also found that the bank has always knew the illegal acts of employees. Instead of intervention, they have formulated incentive compensation plans to reward employees who "open new accounts".

In a statement, CFPB stated: "Bank of America's behavior has a negative impact on their credit and hurts its customers."

On July 28, local time, CFBP announced a fine of US $ 37.5 million in US Bank. It is understood that the Bank of America is headquartered in Minne Plus, with more than 559 billion US dollars assets, and has more than 2,800 branches in the United States. It is the fifth largest commercial bank in the United States.

Bank of America is not the first large bank that is punished for illegal accounts in the United States. In 2016, employees of the Wells Fargo illegally created 2 million false accounts and reached a settlement with regulatory agencies for $ 185 million.

It is reported that many commercial banks in the United States are carrying heavy sales tasks. Some Wells Fargo employees said: "Our neck is like being tightened by the sales target." Some employees even wrote to the CEO: "Working in Wells Fargo is even more nervous than participating in the Gulf War in 1991."

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