Posted inCalifornia Currents

‘Kickback scheme’: How EDD and Bank of America make millions on unemployment

State records obtained by CalMatters 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 debit card contract during the spike in benefits. Lawmakers are asking questions about the revenue-sharing deal as workers still missing money fight to survive.

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