Bank of America fined $225M for card practices

Bank of America Corp. was fined $225 million by regulators for unfair and deceptive practices related to a prepaid card program to distribute unemployment insurance and other public-benefit payments amid the pandemic.

The Office of the Comptroller of the Currency ordered the bank to pay $125 million and provide remediation to consumers that were harmed by

Amazon, seeking to resolve two European Union antitrust investigations, has promised to treat third-party merchants on its website fairly, the bloc's competition watchdog said Thursday.

The U.S. online retail giant offered to make a number of commitments to ease competition concerns, and the European Commission, the 27-nation bloc's top antitrust enforcer, said it will now seek feedback on them from “interested parties.”

The commission launched an investigation four years ago over concerns Amazon breached EU competition rules by using data from merchants selling products on its platform to gain an unfair advantage over them.

It also opened a separate investigation into whether Amazon favors its own retail business and merchants that use its logistics and delivery system over other sellers.

Amazon also is facing similar scrutiny in the U.S.

Amazon said that while it disagreed with several of the conclusions, it has “engaged constructively with the commission to address their concerns and preserve our ability to serve European customers and the more than 185,000 European small- and medium-sized businesses selling through our stores.”