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Bank of America to pay $250 million for illegal fees, fake accounts

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Bank of America to pay $250 million for illegal fees, fake accounts

Bank of America, the nation's second largest bank, has been ordered to pay more than $100 million to customers for double charging insufficient fund fees, withholding reward bonuses and opening accounts without customers' knowledge or permission. The bank is also on the hook for an additional $150 million in penalties for the same violations.

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