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Bank of America has been slapped with $225 million in penalties by federal authorities for “unfair and deceptive practices” related to customers’ unemployment benefits programs.
The state’s unemployment agency potentially overpaid an estimated $55 billion in recent years to people who may not have been eligible for jobless benefits, a California state audit has found.
As a result, Dunkley’s business received a Paycheck Protection Program loan for $18,540 and another under the Economic Injury Disaster Loan program for $17,500 during the pandemic. The loans ...
The Federal Unemployment Account (FUA) provides loans to states under Title XII of the Social Security Act. All state loan repayments, either voluntary or through FUTA credit reduction , are deposited in this account, and so are loan interest payments.
The pandemic left millions of people in the U.S. at-risk when it comes to nutrition and overall health status. The pandemic complicated food insecurity among children, older adults, and undocumented immigrants. Feeding America stated that the estimated number of food-insecure kids could jump from 11 million to an estimated 18 million.
The Employee Retention Credit is a refundable tax credit against an employer's payroll taxes. [2] It was established as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law by President Donald Trump, in order to help employers during the pandemic. [3]
A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as they reduce profitability. [ 1 ]
The bank is being sued for allegedly misleading customers about its offerings for high-interest savings accounts, costing them more than $2 billion in potential interest payments.