CFPB orders Bank of America to pay $12m for reporting false mortgage data

Loan officers routinely falsified information on government forms about mortgage applicants, the CFPB said.

The Consumer Financial Protection Bureau (CFPB) said on Tuesday that it had fined Bank of America $12m for reporting false mortgage lending data to the federal government.

“Bank of America violated a federal law that thousands of mortgage lenders have routinely followed for decades,” CFPB director Rohit Chopra said

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