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EMPLOYMENT LAW: Bank of America Ordered to Pay, Reinstate Whistleblower

September 16, 2011

New York - The US Department of Labor has ordered Bank of America to reinstate and pay a former employee $930,000 for violating federal whistleblower protection laws, reports said.

According to reports, the former employee worked for Countrywide Financial Corporation and was fired shortly after Bank of America bought the mortgage lending company in 2008.

The Los Angeles-area employee was allegedly fired when he led internal investigations into widespread wire, mail and bank fraud involving company employees. The employee said he suffered retaliation for attempting to report the illegal activities, including fraud, to Countrywide’s Employee Relations Department.

The payment will cover back wages, interest, compensatory damages and attorney fees, among others.

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