Bank of America has been fined $250 million for charging junk fees, withholding credit card rewards, and opening fake accounts, which are all illegal activities.
The Consumer Financial Protection Bureau will receive $90 million in penalties, while affected consumers will receive over $100 million.
These illegal practices erode customer trust and regulators are committed to ending them in the banking industry.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
