30$ million dollar fine imposed on Bank of America

30$ million dollar fine imposed on Bank of America

On violating consumer protections the bank of America, the 2ndlargerst bank of USA, has been fined 30$ million.The bank has also agreed to payback unfair interest payments to some consumers.

Bank of America The bank has taken an illegal action against military clients for wrong credit card overdrafts and accounts. Bank employees have signed documents, related to legal actions against such customers, without having true knowledge of allegations.  It is to be noted that military customers has some special consumer protections in the law. However, the bank authorities said that they will continue to improve their law compliance in future.


Post a comment here

You must be logged in to post a comment Login

Leave a Reply


Writing about Current affairs, Education, Fashion & Health.

More in Business

South Korean web-facilitating firm Nayana

South Korean firm’s ‘record’ ransom payment

Sarah AliceJune 21, 2017
Apple Hires Sony TV Executives

Apple Hires Sony TV Executives to Boost Video Content

Liza NicholeJune 21, 2017
investment opportunities in Pakistan

Pakistan urges Saudi investors to avail investment opportunities in Pakistan

Staff ReporterJune 20, 2017
Amazon buys Whole Foods

Amazon buys Whole Foods for $13.7 Billion

Sarah AliceJune 17, 2017

Amazing Ideas on How to Brand Your Business

Staff ReporterApril 26, 2017
donkey production

KPK govt Planning to regulate donkey production and export to China

Staff ReporterApril 8, 2017
Political Factors Affecting Businesses

Political Factors Affecting Businesses That You Need To Know

Staff ReporterMarch 28, 2017

eBay comes to the vicinity of small towns by eBay UK

Anand RajendranMarch 22, 2017

Saudi Telecom Endows a Huge Sum of Uber’s the Middle East Rival

Staff ReporterFebruary 3, 2017

Copyright © 2014 Khaleej Mag