Bank of America Archives - California Globe

Woke CEOs Condemn Democracy When the Outcomes Fail Progressive Litmus Tests

August 7, 2022 8:34 amOctober 10, 2022 3:58 pm

It’s a predictable pattern. A state announces that its duly elected conservative legislators enact a law presumably backed by the majority of people who elected them. Immediately, corporations begin wringing their hands over how hard it will be to find...

What’s With CA Attorney General Rob Bonta’s Crusade Against Financial Institution Fees?

April 15, 2022 4:29 pmApril 16, 2022 7:12 am

California Attorney General Rob Bonta has lately devoted lots of time and energy taking aim at the fees financial institutions charge customers. But it’s unclear what the basis is for his crusade against overdraft fees and mortgage service processing fees...

EDD Rolls Out All Chipped Unemployment Benefit Debit Cards

July 27, 2021 2:44 amJuly 26, 2021 8:57 pm

The Employment Development Department (EDD) began issuing all chip-enabled debit cards on Sunday as a way to severely decrease unemployment fraud in California. In 2020, the EDD suffered a confirmed $11.4 billion in fraudulent unemployment payment, with the final amount...

California Lost $2 Billion From Fraudulent EDD Unemployment Cards Since March

December 8, 2020 9:39 pm

On Monday, Bank of America, the bank selected by the Employment Development Department (EDD) to be behind their unemployment benefit debit cards, announced that fraudulent cases could be as much as $2 billion. The EDD estimate of the fraudulent cases,...

Gov. and Legislature Ignoring Appellate Court’s Order to Return ‘Unlawfully Diverted’ Subprime Crisis Funds

October 10, 2019 7:40 amOctober 10, 2019 3:27 pm

In 2018, Gov. Jerry Brown was ordered by the state’s 3rd Appellate District Court to repay more than $331 million in funds the state illegally diverted from a national fund intended to help homeowners struggling with foreclosures from the housing...