(CNBC) Bank of America Corp’s (BAC.N) Merrill Lynch unit will pay nearly $11.7 million to resolve claims that it overcharged customers who invested in unit investment trusts. The payout includes a $3.25 million fine and $8.44 million of restitution, according to the Financial Industry Regulatory Authority.
Bank of America to pay $11.7 mln over excessive sales charges–US regulator
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