Thursday, September 15, 2011

Bank of America to pay whistle-blower $930,000

The Labor Department ordered Bank of America (BAC: 7.05 +0.71%) to reinstate and pay $930,000 to an 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.

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