Bank of America to pay $772 million for illegal credit card practices
Bank of America has agreed to refund $717 million and pay $45 million in fines for illegal credit card practices. over 2.9 million people where deceived into signing up for products such as credit monitoring and identity theft services or who were improperly charged for such services. customers where unfairly billed for services that were never performed. these unethical allegations have been traced back as far 2000 and have stopped in 2012.
this is a extremely un ethical practice from bank of America. not only did they deceived customers into thinking that they were being covered by certain services, but they also made customers pay for these un used services making bank of America millions upon millions of dollars. it is never ok to charge people for services that were never agreed too and it certainty not ok to offer such services and never apply them to the customers. i am happy that the consumer financial protection bureau caught on to the problem and has forced bank of America to refund their customers and pay a fine for their un ethical practices.
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