Bank of America Corp (NYSE: BAC) has agreed to pay a fine of $195,000 in order to settle a suit from the Missouri attorney general’s office to settle allegations that the Charlotte-based bank violated telemarketing laws.

Missouri Attorney General Chris Koster said that Bank of America Corp (NYSE: BAC) and its affiliates have sent unwanted calls to residents of his states that are on the do-not call list.

Koster said that his office has gotten an “assurance of voluntary compliance” from Bank of America, which has been filed in St. Louis Circuit Court.

Bank of America Corp (NYSE: BAC) will also maintain a comprehensive do-not-call program for its telemarketers, Koster said.

Bank of America Corp (NYSE: BAC) shares rose by 0.91% on Friday ending at $15.60.

Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.