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.
FINRA fines Bank of America $8 million
Exonerated Charlotte man who served 25 years in prison sues city, investigators
Part of East Independence Boulevard shut down due to sinkhole
DOT worker falls off bridge, drowns in Catawba River, officials say
Parents warned about clown luring kids into woods in South Carolina