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BofA fined $150m for consumer abuses, including phone accounts, bogus fees

Image of Bank of America ATM and bank logo
Photo: Spencer Platt/Getty Images

Julie DiMauro

3 min read
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Bank of America, the second-largest US bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers, regulators allege.

US regulators said Tuesday they found that Bank of America (BofA) harmed customers by double-dipping on fees, withholding credit card rewards, and opening fake accounts, violating a number of consumer financial protection laws.

The Charlotte, North Carolina-based bank, the second largest in the US, was ordered to pay a total

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