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

File – A customer uses an ATM at a Bank of America location in San Francisco, Monday, April 24, 2023. Bank of America is being ordered to pay more than $100 million to customers for double-dipping on some fees imposed on customers, withholding reward bonuses explicitly promised to credit card customers, and misappropriating sensitive personal information to open accounts without customer knowledge or authorization. (AP Photo/Jeff Chiu, File)

Bank of America is being ordered to pay more than $100 million to customers for double-dipping on some fees, withholding reward bonuses and opening some accounts without customer consent. The Office of the Comptroller of the Currency found that the bank’s double-dipping on fees was illegal. The Consumer Financial Protection Bureau said Tuesday that Bank of America will pay $90 million in penalties to its organization and $60 million in penalties to the OCC.