Global Client Account Agreement Bank Of America
Note: These liability rules are defined by Regulation E, which implements the Federal Act on the Transfer of Electronic Money and does not apply to commercial accounts. Our liability policy for unauthorized online banking transactions on consumer deposit accounts may offer you increased protection, provided you can report transactions immediately. In addition, state law applicable to your account may give you more time to report an unauthorized transaction or offer you more protection. In January 2008, Bank of America began informing some customers, with no payment problems, that their interest rates had more than doubled, up to 28%. The bank has been criticized for raising interest rates for well-putable customers and refusing to explain why it did so.