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Bank of America Fined for Misreporting Mortgage Data
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Bank of America pays a $12 million fine to settle charges of routinely misreporting mortgage applicant data, failing to ask required questions about race, ethnicity, and sex.
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How might this fine impact Bank of America's reputation and customer trust?
What are the broader implications of this incident for the regulation of the mortgage industry?
What measures can other banks take to ensure accurate reporting of mortgage applicant data?
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