Competitors JPMorgan Chase and Wells Fargo also face similar lawsuits concerning overdraft fees.

FORBES: Bank of America Settles Lawsuits, Stock Eyes Double Digits

The Obama administration could face another fateful decision in the coming months concerning Mr. Bo's son, Bo Guagua, who has been studying at Harvard.

WSJ: U.S. Saw Chongqing Top Cop as Risky Asylum Candidate