Bank of America agrees to pay Missouri $195k for do-not-call violations

Bank of America agreed to pay $195,000 in a settlement with the state of Missouri for making telemarketing calls to people who had put their names on a do-not-call list.

Consumers who signed up for the state's list complained they received solicitations from the company, one of the nation's four largest banks, prompting the Missouri Attorney General to reach an Assurance of Voluntary Compliance (AVC) saying the bank would stop.

In addition to the fine, the bank also has to maintain better oversight of its telemarketing program. Terms include:
  • Dedicating an employee to manage the program and to make employees aware of no-call regulations.
  • Placing importance on reporting no-call violations.
  • Monitoring employees to make sure solicitations are appropriate.
  • Enforce disciplinary action if someone calls people on the list.
A little over a month ago, Consumer Ally reported on a similar case where Finality Corp paid Missouri $36,000 for no-call list violations, though that company was not required to improve internal oversight.

To sign up for the national do-not-call list, go to the Federal Trade Commissions' National Do Not Call Registry online. If you live in Missouri, sign up or report a violation at 1-866-buzzoff.


Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Understanding Credit Scores

Credit scores matter -- learn how to improve your score.

View Course »

Add a Comment

*0 / 3000 Character Maximum