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Bank of America Tightens Compliance Processes, including Collections, Across Businesses

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CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America today entered into a consent order with the Office of the Comptroller of the Currency (OCC) in which it agreed to continue to make improvements to its compliance practices, specifically enhancing its non-home loan collections litigation and Servicemembers' Civil Relief Act (SCRA) processes as well as its enterprise compliance program. The order covers collections litigation from several years ago for a small percentage of credit card and deposit

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