Bank of America Home Loans controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
2005
Overtime class-action settlement
Countrywide settled allegations that account executives had been required to work long hours without proper overtime compensation. The settlement reportedly compensated about 400 employees.
Alleged steering of Black and Hispanic borrowers
A settlement with New York authorities addressed allegations that sales personnel directed Black and Hispanic borrowers into higher-cost loans. The agreement included borrower compensation, improved training and oversight, and a payment to New York State for investigation costs.