Mealey's Banking & Finance - Bank Of America Settles Credit Card Allegations For $727 Million

Mealey's Banking & Finance - Bank Of America Settles Credit Card Allegations For $727 Million

WASHINGTON, D.C. - Bank of America N.A. and FIA Card Services N.A. on April 9 agreed to a Consumer Financial Protection Bureau consent order which requires them to pay approximately $727 million to consumers who were allegedly harmed by the bank illegally charging them for credit card "add-on" products (In the Matter of: Bank of America N.A., et al., No. 2014-CFPB-0004, CFPB).

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