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Esther D’Amico

Bank of America Fined Over Junk Fees, Fake Accounts. Customers Get $100M Payout

Bank of America CFPB OCC

Bank of America building

Hundreds of thousands of Bank of America customers who were charged insufficient fund fees multiple times for a single transaction are set to receive refunds, the federal government said on July 11.

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) have fined Bank of America $250 million for illegally charging junk fees, withholding credit card rewards and opening fake accounts.

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