Yes, what Bank of America had to pay back was too much, because they will pass on those costs in the form of higher prices. There will be more costs and fees to do things. They will lower the reward amounts for using a credit card. They will just make sure we are the ones paying the bill in the end.
No the $727 million in fines and customer refunds that Bank of American agreed to pay is reasonable in light to the scope of the bank's illegal and questionable credit card activities. You look at the fact that only about $50 of it fines Bank of American is getting off easy.
It is never fun to have to pay off large debts, especially in this tanked and ever sinking economy. But the bank owe the money to the people and needs to pay it back. It could take a great many years, but the money most certainly needs to be paid back.
I do not believe the $727 million is enough. Bank of America wronged it's customers and they should be required to pay them back in full. The general, random citizen shouldn't be standing up for the banks. While $727 million may seem like a lot to us, it certainly is not to them.