WASHINGTON — Regulators slammed Bank of America on Wednesday with their toughest enforcement action to date on shady marketing and billing practices for add-on products like identity protection, forcing it to pay $772 million in restitution and fines.

It was the fifth multi-agency action taken in recent years against add-on products, but Consumer Financial Protection Bureau officials told reporters Wednesday that there are likely more on the way.

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.