Bank of America to pay more than $100 million for doubling fees, opening accounts without customer consent

Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.

Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.

Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the OCC, the Consumer Financial Protection Bureau said Tuesday.

The Office of the Comptroller of the Currency found the bank’s double-dipping on fees was illegal.

Bank of America, based in Charlotte, North Carolina, serves 68 million people and small business clients. The bank had $2.4 trillion in consolidated assets and $1.9 trillion in domestic deposits as of March 31, making it the second-largest bank in the U.S.

The bank did not immediately respond to requests from The Associated Press for comment.