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FINRA fines Bank of America $8 million

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.

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