Federal Regulators Fine Merrill Lynch Millions - Beckley, Bluefield & Lewisburg News, Weather, Sports

Federal Regulators Fine Merrill Lynch Millions

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Federal regulators fine Merrill Lynch $2.8 million for over-charging its customers with fees and for failing to give timely trade confirmations.

The financial industry regulatory authority found the brokerage firm over-charged nearly 95 thousand customers since 2003.

Those fees total more than $32 million.

Merrill Lynch says it has returned the money with interest to the customers affected.