Brian T Moynihan and Bank of America accused of banking fraud

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Brian T Moynihan and Bank of America accused of banking fraud

By D.E. Alexander

Chief Editor 247 News

The US Government and the DOJ and SEC has fined and penalized Bank of America numerous times multi-billion dollar fines due to BOA violating federal banking laws and commiting fraud against consumers.

If a person steals money from you they go to jail. When BOA steals your money cops won’t even file a complaint, so banks are the biggest thieves in the world and Bank of America and it’s president Brian T Moynihan are  two of the biggest thieves in the world in the opinion of many who write articles about corporate banking fraud

Just look at the usurious rates banks charge on credit cards often over 24 percent. They borrow at 2% and loan at 24% on credit cards.

Federal laws meant to protect consumers over the illegal credit card rates that banks charge (By definition Usury is a crime) include a law about banks cannot take money from deposit accounts to cover credit card debt.

That’s the law and while banks often play games with the law, the fact is a bank cannot legally dip into your deposit accounts over credit card debt. Credit card debt is unsecured debt, banks have to actually sue you to collect it if you don’t pay credit card debt.

Bank of America is in fact routinely stealing money from deposit accounts over creditcard debt even though Federal Law says they cannot due it

For research for this article I sat in on a phone call last night where BOA staff was told they violated Federal Law, yet over and over the ignorant employees of BOA stated that BOA was allowed to illegally take money from deposit accounts for credit card debt. They honestly couldn’t grasp they were breaking federal law.

Read the government site explaining this simple law. Banks can’t steal your money over credit card debt.

https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1026/12/#d-1

Yesterday, I got an email from a lawyer I know about a company was threatening to sue BOA and Brian T Moynihan and a branch manager Erin M Horn for fraud and theft due to BOA stealing monies from a business account for unsecured credit card debt an employee of the company has who was disabled in an accident and has a heart condition. His health prevents him from working now so his personal debt is in rears.

Due to the illegal actions of BOA the disabled person was hospitali over the stress he experienced by the criminals who run Bank of America and his lawyer is now suing BOA for 1 million dollars.

I emailed Moynihan and Horn over their actions and neither responded.

Here are some of the multi-billion dollars judgments the government has against Bank of America.

Dump it’s stock if you own it, BOA is in my opinion a criminal organization.

https://violationtracker.goodjobsfirst.org/violation-tracker/-bank-of-america-corporation-1

https://violationtracker.goodjobsfirst.org/violation-tracker/-bank-of-america-corporation-2

https://violationtracker.goodjobsfirst.org/violation-tracker/-bank-of-america-5

https://www.sec.gov/divisions/enforce/claims/bank-of-america-et-al.htm

 

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