FINRA fines Bank of America $8 million

Updated:

Loading
CHARLOTTE, N.C. —

The Financial Industry Regulatory Authority has fined Bank of America's Merrill Lynch unit for $8 million.

F.I.N.R.A. said the company failed to waive charges for mutual fund sales for some charities and retirement accounts.

The regulator has ordered Merrill Lynch to pay back $24.4 million to affected customers.

Sign up for breaking news alerts, click here.