More Identity Data Woes: Bank of America Loses Tapes With One Million Records

Bank of America reported Friday that it had lost data tapes containing financial information for federal employees. Media sources throughout the country put the total number of individuals impacted at 1.2 million, but the company's press release referred only to "a small number of computer data tapes" and not mentioning the number of people affected.

WNCT television in Greenville, NC called Bank of America and confirmed through a spokesman that the bank would be responsible for any damages caused by the lost information. The Associated Press, meanwhile, reports that Sen. Patrick Leahy (D-Vt), who has been calling for hearings regarding ChoicePoint's release of 140,000 consumers' records, was among those federal employees whose records have been lost by Bank of America.

Investors did not seem troubled by the events on Monday, inching the bank's stock down 14 cents per share to close at $46.55.

posted by Consumer Help Web Editorial Team at 8:18 PM |