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

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.

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