Bank of America ordered to pay $772M in refunds

Bank of America has been ordered to pay roughly $772 million in refunds to customers and fines to federal regulators to settle allegations that the bank used deceptive marketing and billing practices involving credit card products.

The company was said to have charged its customers for credit monitoring and credit reporting services that weren't actually received, according to the New York Times.

The bank must also pay a $20 million fine to the Consumer Financial Protection Bureau and $25 million to the Office of the Comptroller of the Currency.

Read more from the New York Times.