California’s unemployment fiasco takes new turn: Bank of America wants out

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California’s unemployment fiasco takes new turn: Bank of America wants out

Just how dysfunctional is California’s unemployment department?

Apparently, it’s so dysfunctional Bank of America, which since 2010 has had an exclusive contract with the state to deliver unemployment benefits through prepaid debit cards, wants to end the contract — even though the Employment Development Department just renewed it for another two years.

The news, first reported by ABC 7 in San Francisco, comes about a month after a federal judge — as part of a class-action lawsuit first reported by CalMatters — ordered Bank of America to stop using an automated fraud filter that blocked tens of thousands of legitimate claimants from accessing their benefits after they reported suspicious account activity. The bank said it received 230,000 claims of debit card fraud from October 2020 through March 2021.

 

See also  Bank of America are still at it… as of Sept 19 the report shows it still holds precious metals derivatives, except gold, of $33.2 billion…. with a maturity of less than one year… platinum and palladium markets are very small, so that is a lot of silver derivatives… 2 years ago they held almost none…
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