Bank of America Ordered To Pay $250 Million In Fines

Bank of America Ordered To Pay $250 Million In Fines

(Charlotte, NC) -- Bank of America is being ordered to pay hundreds of millions of dollars in fines. The bank is accused by federal regulators of multiple violations including overcharging customers on fees and opening accounts without customer consent. The Consumer Financial Protection Bureau has ordered Bank of America to pay customers more than 100-million dollars and another 90-million dollars in fines. Bank of America is also being ordered to pay 60-million dollars in penalties by the Office of the Comptroller of the Currency. The CFPB said Bank of America's practices are illegal and undermine customer trust.