Bank of America’s sales practices are apparently the subject of an ongoing investigation by the Consumer Financial Protection Bureau, as revealed by a letter in which Director Kathy Kraninger denied the bank’s petition to discontinue the probe or modify its scope.
The bureau’s response offers insights into how the bureau evaluates arguments presented in CID petitions, as well as regarding the meet-and-confer process.
Find out more details revealed by the bureau’s response to the bank’s petition.