Bank of America Violated Sarbanes-Oxley, Must Reinstate Employee

Bank of America was ordered to reinstate a whistleblower it fired after its merger with Countrywide Financial Corp. in 2008, as well as pay $930,000 in back wages, interest, compensatory damages, and attorney’s fees.  U.S. Department of Labor’s Occupational Health and Safety Administration found that Bank of America violated Sarbanes-Oxley in improperly firing the employee, who had reported extensive wire, mail, and bank fraud by Countrywide employees prior to the merger.

Bank of America and the whistleblower may appeal the decision by the U.S. Department of Labor’s Occupational Health and Safety Administration within 30 days.

Read the entire press release, “US Department of Labor finds Bank of America in violation of Sarbanes-Oxley Act whistleblower protection provisions”