Bank Of America was ordered to reinstate a former employee and fined $930,000 for violating the whistleblower protection provision of the Sarbanes-Oxley Act. The Department of Labor’s Occupational Safety and Health Administration (OSHA) said the bank was found guilty of wrongfully terminating the employee shortly after BofA acquired the troubled Countrywide mortgage company.
“It’s clear from our investigation that Bank of America used illegal retaliatory tactics against this employee,” said OSHA Assistant Secretary Dr. David Michaels in a statement released on Sept 14. “This employee showed great courage reporting potential fraud and standing up for the rights of other employees to do the same,” he says.
