Another trouble for Bank of America

amidst the banking crisis in Europe

there are also some problems in the USA

the U.S has reached the debt ceiling and

is now discussing if they can take even

more debt if the U.S were to reach a

default it could mean a shocking

situation for the majority of the world

a judge in San Diego ruled that Bank of

America must face allegations from

cardholders who claim the bank must

handle unauthorized transactions on

unemployment and disability benefits

cards in California during the pandemic

the judge allowed the proposed

class-action lawsuit to proceed stating

that the bank potentially violated state

law by issuing cards without standard

security measures and failed to

investigate fraud claims or promptly

freeze accounts the ruling dismissed

some claims but allowed others including

allegations that the bank violated the

electronic fund transfer act breached

consumer privacy laws and violated

cardholders constitutional rights Bank

of America had previously agreed to stop

using automated fraud detection software

that froze accounts the bank did not

provide immediate comment on the ruling

given the situation the banking sector

is rather volatile at the moment

since coming to the market in 1983 B of

A managed to provide growth of 738

percent currently the price is sitting

at 28 17 United States dollars but this

is not the highest it has been the top

was reached in 2006 and 2007 when the

price for a single stock was more than

54 United States dollars however given

the current situation the banking sector

is rather volatile so it is better to

wait a few days and monitor the movement