The bank will repay customers $100 million for allegedly imposing illegal fees and signing customers up for accounts without permission.
Bank of America has been fined over $250 million by the Consumer Financial Protection Bureau for allegedly imposing illegal fees and withholding promised rewards.
"Bank of America generated substantial additional revenue by illegally charging multiple $35 fees," the CFPB said. The CFPB said this practice has since been disbanded but"consumers were charged unjustified fees, suffered negative effects to their credit profiles, and had to spend time correcting errors."
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