Wells Fargo hit with record $3.7B fine for ‘rinse-repeat cycle’ of loan violations In a statement, Bank of America, helmed by CEO Brian Moynihan, said it voluntarily eliminated or reduced a range of fees last year. Bank of America reaped hundreds of millions of dollars by charging multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022, the CFPB said. Wall Street ‘egging’ on freezing egg pregnancy delaysīank of America on Tuesday agreed to pay $250 million in fines and compensation to settle claims the bank systematically double-charged customers fees, withheld promised credit card perks, and opened accounts without customer authorization.īank of America agreed to pay $100 million in restitution to harmed consumers and another $150 in civil penalties after the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency said the bank violated a number of laws beginning in 2012.īank of America reaped hundreds of millions of dollars by charging multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022, the CFPB said in a statement.Ĭonsumers could not reasonably expect or understand they would be hit with $35 fees each time the bank declined to pay a single transaction, regulators said. Goldman Sachs to tap ally of embattled CEO for board seat as backlash expected over mass layoffs Woman throws Molotov cocktail into bank after waiting ‘too long’: Gonna ‘blow this bitch up’

Profits at Wall Street’s major banks tank on weak trading, dealmaking

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