WASHINGTON (Reuters) - Bank of America Corp is close to a settlement with the U.S. Consumer Financial Protection Bureau over problems with products sold as add-ons to credit cards, sources familiar with the talks said.
The consumer bureau has reached settlements with other credit card companies over allegations they gave consumers misleading information about add-on products such as identity-theft protection. The Wall Street Journal, which first reported the latest settlement talks, said Bank of America could pay more than $800 million to settle the allegations against it.
(Reporting by Emily Stephenson. Editing by Andre Grenon)
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