Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.
Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the OCC, the Consumer Financial Protection Bureau said Tuesday.Bank of America, based in Charlotte, North Carolina, serves 68 million people and small business clients. The bank had $2.4 trillion in consolidated assets and $1.9 trillion in domestic deposits as of March 31, making it the second-largest bank in the U.S.
The bank said that it voluntarily reduced overdraft fees and eliminated all non-sufficient fund fees in the first half of last year. Since at least 2012, Bank of America employees illegally applied for and enrolled consumers in credit card accounts without their knowledge or authorization, the CFPB said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bank of America ordered to pay more than $100 million for double charging fees, withholding rewardsBank of America was ordered to pay more than $100M to customers for double-dipping on fees, opening accounts without consent and more.
Baca lebih lajut »
Bank of America ordered to pay $100 million: How to know if you're eligibleThe bank has agreed to pay hundreds of thousands of customers for allegedly double-dipping on fees, withholding rewards and secretly opening accounts.
Baca lebih lajut »
Bank of America Ordered to Refund Customers $100 MillionThe Consumer Financial Protection Bureau ordered Bank of America to refund customers $100 million and pay $150 million in penalties. See potential bias and similarities in coverage from Newsweek, AP, and FoxBusiness:
Baca lebih lajut »
Bank of America to pay more than $100M for doubling fees, opening accounts without customer consentBank of America to pay $250 million for doubling fees, opening accounts without customer OK, federal agency says.
Baca lebih lajut »
Bank of America to pay more than $100M for doubling fees, opening accounts without customer consentBank of America is being ordered to pay more than $100 million to customers for double-dipping on some fees, withholding reward bonuses and opening some accounts without customer consent.
Baca lebih lajut »