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) – Bank of America, the second largest bank in the nation, has been slammed with over 100 million in reimbursements to customers and over 150 million in fines for illegal credit card transactions. They are forced to pay $90 million in fees to the Consumer Financial Protection Bureau (CFPB) and $60 million to the Office of Comptroller of the Currency.
Are you one of the Bank of America customers affected? 77 WABC’s Alena Powell spoke to Michael Posner, Assistant Litigation Deputy, Office of Enforcement with the Consumer Financial Protection Bureau. Listen to learn more about the bank’s illegal practices, where harmed customers stand and how they’re going to be reimbursed, how the CFPB is taking action to ensure this doesn’t happen again, and more.
For more information, check out a blog post recently published by the Consumer Financial Protection Bureau. Contact 855-729-1764 for any questions or file a complaint at www.consumerfinance.gov
