Bank of America to pay $727 mln to consumers over credit card problems

WASHINGTON, April 9 Wed Apr 9, 2014 12:23pm EDT

WASHINGTON, April 9 (Reuters) - U.S. regulators on Wednesday ordered Bank of America to pay $727 million in relief to consumers over practices related to credit card add-on products.

The Consumer Financial Protection Bureau also fined Bank of America $20 million over allegations of deceptive marketing of products and unfair customer billing pratices. The Office of the Comptroller of the Currency fined the bank an extra $25 million. (Reporting by Emily Stephenson, Editing by Franklin Paul)

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