WASHINGTON — Bank of America will pay $772 million to settle allegations by two regulators that it engaged in unfair fee collection and marketing related to credit card add-on products.

The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau separately announced actions Wednesday alleging the bank's billing practices and marketing of such products as identify theft protection violated laws.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.