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The California Employment Development Department is swapping out Bank of America for Money Network as its benefit payment contractor.
This means Bank of America will continue delivering unemployment benefits on EDD debit cards for up to two more years despite rampant fraud, frozen accounts and a class action lawsuit.
Bank of America failed to provide answers by a Tuesday deadline. And now thousands of unemployed workers are left without badly-needed benefits.
As unemployed workers' unemployment benefits are frozen or drained by Bank of America, the bank that issues the EDD's debit cards, lawmakers are demanding answers.
CRESTLINE, Calif. (KABC) -- With Bank of America already in hot water with state elected officials for allegedly draining money out of thousands of EDD bank accounts, a Crestline woman is now ...
But now, workers are reporting newer issues with debit card fraud, even after ex-EDD payment contractor Bank of America bowed out early this year.
OAKLAND, Calif. -- More bank customers are coming forward, saying imposters tricked them into transferring money through Zelle, the popular quick payment app. Banks usually tell customers they are ...
Bank of America declined his request to withdrawal money at a drive-thru ATM in Campbell. He later checked his app and discovered $4,000 missing from his account. "Kind of shocked.
State records show that the employment agency made $22.5 million on unemployment debit card fees as the pandemic ravaged the job market, but it failed to track how much Bank of America earned off a ...