MERRILL LYNCH MUTUAL FUND FEES
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Investigating a potential class action lawsuit against Bank of America for improper fees charged by Merrill Lynch from 2006 to 2011. BOA agreed to pay an $8 million fine related to claims that Merrill Lynch, which BOA acquired in 2009, improperly charged purchase charges for mutual funds. Financial Industry Regulatory Authority (FINRA) determined that from 2006 to 2011 nearly 48,000 retirement plans for charities, ministries, public-school workers and small businesses paid purchase charges for mutual funds when they were not required. Merrill Lynch discovered the charges in 2006 but failed to disclose them to FINRA until 2011. If you purchased mutual funds from Merrill Lynch between 2006 and 2011, please contact us.
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