CNN reports: “Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations of various consumer financial protection laws. As a result, the Consumer Financial Protection Bureau ordered Bank of America to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the Currency also ordered Bank of America to pay $60 million in fines.” The full story is here.
Consumer Financial Protection Bureau, Credit Cards, Other Lending, Debt, and Credit Issues
BofA accused of opening fake accounts and charging illegal junk fees
