Bank Of America To Pay $727 Million To Consumers Over Credit Card Problems

wochit business
April 09, 2014 AT 8:07 AM
U.S. regulators on Wednesday ordered Bank of America to pay $727 million in relief to consumers, over practices related to credit card add-on products. The Consumer Financial Protection Bureau also fined Bank of America $20 million, over allegations of deceptive marketing of products and unfair customer billing practices. The Office of the Comptroller of the Currency fined the bank an extra $25 million.