Tag Archives: Bank of America

CFPB Fines BofA $10M for Improper Garnishments

The Consumer Financial Protection Bureau yesterday announced an enforcement action against Bank of America, in which the nation’s second-largest financial institution will pay a fine of $10 million after it was accused of unlawfully garnishing $592,000 from its customers’ bank accounts. A copy of the settlement order can be accessed …

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AGs Call on Big Banks to End Overdraft Fees

A group of 18 state attorneys general sent letters to four of the largest financial institutions in the country this week, urging them to stop charging overdraft fees on consumers by this summer, and while the states did not make any threats in the letter about what would happen if …

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