Bank of America, Raymond James to pay $12 mln restitution for fund overcharges
November 06, 2019 at 09:45 AM EST
A U.S. regulator said units of Bank of America Corp and Raymond James Financial Inc will pay roughly 12 million in restitution to customers who incurred excess fees on their investments in so-called 529 plans, which are used to encourage saving for educational expenses.
