Thursday, Oct 23, 2014Thursday, Oct 23, 2014
Business
 

Bank of America to pay $906m to consumers over credit card woes

Published on Apr 10, 2014 12:51 AM
 

WASHINGTON (REUTERS) - US regulators on Wednesday ordered Bank of America to pay US$727 million (S$906 million) in relief to consumers over practices related to credit card add-on products.

The Consumer Financial Protection Bureau also fined Bank of America US$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 US$25 million.

Videos