![]() ![]() "The CFPB will be putting an end to these practices across the banking system."īank of America spokesman Bill Halldin said in a response the lender "voluntarily reduced overdraft fees and eliminated all non-sufficient fund fees in the first half of 2022," resulting in a 90% drop in revenue from those fees. "These practices are illegal and undermine customer trust," CFPB Director Rohit Chopra said in the release. It also has to pay about $80.4 million to customers who were unfairly charged bogus fees, on top of the $23 million it already paid to customers who were improperly denied card awards. Personal Loans for 670 Credit Score or LowerĬharlotte, North Carolina-based Bank of America was ordered to pay a total of $150 million in penalties to the CFPB and another regulator, the Office of the Comptroller of the Currency. ![]() Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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