Mortgage Principles: BOA Forced to Pay Whistle-Blower $930,000

HousingWire
Whistle blower Bank of America
Whistle blower Bank of America



The Labor Department ordered Bank of America to reinstate and pay $930,000 to a employee, who was fired after reporting instances of possible fraud among Countrywide Financial Corp. employees.

The Labor Department's Occupational Safety and Health Administration division in San Francisco launched an investigation after a Los Angeles-based employee filed a complaint, claiming the lender violated a federal whistle-blower protection law.