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Empresas y finanzas

BofA's Merrill Lynch fined for mutual fund overcharges


    (Reuters) - Bank of America Corp's Merrill Lynch unit was fined $8 million and ordered to repay $24.4 million to settle a U.S. regulator's allegations it overcharged thousands of charities and retirement accounts by failing to waive mutual fund sales charges.

    The Financial Industry Regulatory Authority, Wall Street's self-funded regulator, said the restitution was in addition to $64.8 million that Merrill has already repaid harmed investors.

    Merrill neither admitted nor denied FINRA's charges.

    (Reporting by Jonathan Stempel in New York; Editing by Jeffrey Benkoe)