“Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” said CFPB Director Rohit Chopra. Bank of America will pay a total of $90 million in penalties to the CFPB and $60 million in penalties to the OCC. The Office of the Comptroller of the Currency (OCC) also found that the bank’s double-dipping on fees was illegal. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account, withholding reward bonuses explicitly promised to credit card customers, and misappropriating sensitive personal information to open accounts without customer knowledge or authorization. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.WASHINGTON, D.C. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices popup powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool popup. Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. Relationship-based ads and online behavioral advertising help us do that.īank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). We strive to provide you with information about products and services you might find interesting and useful. Your Bank of America credit cards can be added to your digital wallets for Apple Pay®, Google Pay™, PayPal and Samsung Pay. You can find your virtual card number in your digital wallet, which stores information about your physical debit and credit cards so you can easily make purchases at participating merchants. Please note that the last 4 digits of your virtual card will be different than the last 4 digits of your physical card (something to keep in mind if you need to return an item purchased with your virtual card the receipt for that purchase should display the last 4 digits of your virtual card). You still get all the rewards, benefits and protections your physical card provides. You can use your virtual card with your digital wallet to conveniently make purchases, just like with your physical credit cards. You can learn more about Balance Connect ® and overdrafts by reviewing these FAQs.Ī virtual card is the digital form of your physical credit card it has a unique card number stored within a digital wallet that's different from the physical card number, so it can't be accessed from your digital wallet if your mobile device is lost or stolen. Please refer to your Credit Card Agreement for additional details. Overdraft protection transfers from your credit card are Bank Cash Advances under your Credit Card Agreement and will accrue interest at the APR stated in your Credit Card Agreement. Please refer to the Deposit Agreement and Disclosures for more details. An overdraft protection transfer won't be made unless it can cover at least one transaction. Only one transfer will be made from each linked backup account to your checking account, even when multiple transactions are covered. If you've linked multiple backup accounts, we'll automatically transfer available funds from those accounts in the order you established. This can help you avoid declined transactions, returned checks and overdrafts. Balance Connect ® for overdraft protection is an optional service which allows you to link your eligible checking account to up to 5 other Bank of America eligible accounts and automatically transfers available funds from your linked backup account(s) to cover transactions that exceed the available balance in your checking account.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |