NEW YORK – Bank of America Corp. has settled a case with the Federal Election Commission in which it acknowledged reimbursing several employees for political contributions made over a five-year period.
Employees in Bank of America’s student banking and wholesale lending divisions were reimbursed for contributions totaling $10,030 between 1999 and 2004, the FEC said in a statement Thursday.
The FEC found the reimbursements violated the Federal Election Campaign Act of 1971. Bank of America and a senior executive in the student banking division agreed to pay fines totaling $16,800 to settle the matter.
SOURCE: Washington Examiner