Arab Today, arab today bank of america to refund 738m to customers
Last Updated : GMT 16:22:08
Arab Today, arab today
Arab Today, arab today

Bank of America to refund $738m to customers

Arab Today, arab today

Arab Today, arab today Bank of America to refund $738m to customers

New York - QNA

Bank of America has agreed to pay $783 Million in fines and refunds to settle accusations it misled customers about its credit card services. The bank will refund $738 Million to affected customers and pay $45 Million in penalties to US regulators. The payout relates to the bank’s sales and marketing of its payment and identity theft protection add-on services from 2010 to 2012. The bank’s credit card services affected nearly three million customers, regulators said. The US Consumer Financial Protection Bureau said in a statement that the bank “unfairly billing consumers” for the identity theft protection product, and “using deceptive marketing and sales practices” for the credit protection add-ons.

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