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Bank of America Fined for Mortgage Lending
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Bank of America is fined $12 million for submitting incomplete and inaccurate mortgage lending data to the federal government, including falsely reporting that applicants chose not to provide demographic data.
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How might this fine impact Bank of America's reputation and customer trust?
What broader implications does this incident have for the regulation of the banking industry?
What measures can the Consumer Financial Protection Bureau take to ensure accurate and inclusive mortgage lending practices?
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