File - A customer uses an ATM at a Bank of America location in San Francisco, Monday, April 24, 2023. Bank of America is being ordered to pay more than $100 million to customers for double-dipping on some fees imposed on customers, withholding reward bonuses explicitly promised to credit card customers, and misappropriating sensitive personal information to open accounts without customer knowledge or authorization. (AP Photo/Jeff Chiu, File)
Bank of America Junk Fees
(New York, NY) — The Consumer Financial Protection Bureau has ordered Bank of America to pay more than 100 million to customers for illegally “double-dipping” on consumer overdraft fees. Those are fees charged when there aren’t sufficient funds in an account to cover a transaction. The CFPA reported the Bank Of America sometimes charged more than once for the same overdraft transaction. Bank of America has been forced to pay $90 million in fees to the CFPA and $60 million to the Office of Comptroller of the Currency.
