Bank of America - McGraw-Hill Introduction to Business

Bank of America Fined $150 Million by Federal Regulators

July 12, 2023

According to consumer watchdogs, for years Bank of America charged customers a variety of “junk fees” while also mishandling accounts. Not only did the financial giant withhold perks that were promised to some credit card holders, but it also double-charged overdraft fees and secretly opened cards in customers’ names without their knowledge. As a result, Bank of America received a $150 million fine from the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau (CFPB), which Continue reading →

Banking, Regulation, Bank of America, Fraud, Consumer Financial Protection Bureau, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law

Lineup Changes on the Dow Jones

The Dow Jones Industrial average is often considered a bellwether for the economy. This stock index of 30 large publicly traded American companies offers a snapshot of the nation’s fiscal wellbeing for analysts and day traders alike. Regardless of its popularity, however, the Dow is hardly perfect. Deciding which companies comprise the index is a delicate process that sometimes omits major players. For instance, a couple years ago we shared a story in the newsletter about Apple’s absence from the Continue reading →