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Federal regulators said Tuesday they found that Bank of America harmed customers by double-dipping on fees, withholding credit card rewards and opening fake accounts, all of which are violations ...
Meanwhile, Bank of America proved to be the least responsive among leading banks to fee complaints, which the CFPB also tracks. It had the highest percentage of delayed responses to complaints – 7%.
In July 2023, the CFPB stated that Bank of America had participated in illegal activities that included double-dipping on NSF fees. In all, the CFPB ordered the bank to pay $250 million in fines ...
The agency in 2023 accused Bank of America of harming hundreds of thousands of customers by charging illegal fees, withholding credit-card cash and reward points, and enrolling them in credit-card ...
While banks have cut back on overdraft fees in the past decade, the nation’s biggest banks still take in roughly $8 billion in the charges every year, according to data from the CFPB and bank ...
Bank of America posted a 64% decline to $140 million. More than 70% of overdraft transactions no longer incur fees, and customers can choose accounts that don’t allow the penalties, a JPMorgan ...
For example, Bank of America, Member FDIC, charges up to $12 per month for its Advantage Plus Banking® account. However, you can avoid this fee entirely if you maintain a minimum daily balance of ...
Bank of America slashed the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks.