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

Image of a Bank of America branch office.
Photo: Spencer Platt/Getty Images

Julie DiMauro

2 min read
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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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