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Violation Tracker Current Parent Company Summary

Current Parent Company Name: Bank of America
Ownership Structure: publicly traded (ticker symbol NYSE: BAC)
Headquartered in: North Carolina
Major Industry: financial services
Specific Industry: banking
Penalty total since 2000$87,248,751,230
Number of records: 324
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
consumer-protection-related offenses$44,239,859,04277
financial offenses$41,308,842,096154
employment-related offenses$885,823,76863
competition-related offenses$777,780,58520
government-contracting-related offenses$35,600,0001
Top 5 Primary Offense TypesPenalty TotalNumber of Records
mortgage abuses$39,950,771,70619
toxic securities abuses$23,208,942,85711
investor protection violation$13,777,013,962117
consumer protection violation$4,244,482,30242
banking violation$4,179,637,53214
Notes: Parent-subsidiary linkages are based on relationships current as of the latest revision listed in the Update Log, which may vary from what was the case when a violation occurred. The penalty totals are adjusted to account for the fact that the individual entries below may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. The totals are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the list below.

Links: Subsidy Tracker data on financial assistance to this company by federal, state and local government agencies can be found here.

Individual Penalty Records:

Click on the company or penalty amount for more information on each case.

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CompanyPrimary Offense TypeYear sort icon . AgencyPenalty Amount
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2021FINRA$11,650,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedtoxic securities abuses2021NM-AG$4,642,857
Bank of America N.A.price-fixing or anti-competitive practices2021private lawsuit-federal$17,000,000
Bank of America N.A.consumer protection violation2021private lawsuit-federal$5,950,000
Bank of Americaconsumer protection violation2022CFPB$10,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2022FINRA$15,200,000
Bank of America, N.A.discriminatory practices (non-employment)2022HUD$15,000
Bank of Americabanking violation2022CFPB$100,000,000
Bank of America NAbanking violation2022OCC$125,000,000
Bank of Americainvestor protection violation2022CFTC$100,000,000
BofA Securities, Inc.investor protection violation2022FINRA$5,000,000
BofA Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2022SEC$125,000,000
Bank of Americaprice-fixing or anti-competitive practices2022private lawsuit-federal$26,420,000
Bank of America, N.A.price-fixing or anti-competitive practices2022private lawsuit-federal$7,000,000
Bank of America N.A.consumer protection violation2022private lawsuit-federal$1,200,000
Bank of America N.A.consumer protection violation2022private lawsuit-federal$75,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2023SEC$9,660,000
Merrill Lynch, Pierce, Fenner and Smith Inc.privacy violation2023NH-BSR$700,000
Bank of Americaconsumer protection violation2023CFPB$90,000,000
Bank of America N.A.consumer protection violation2023OCC$60,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc.anti-money-laundering deficiencies2023FINRA$6,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedanti-money-laundering deficiencies2023SEC$6,000,000
Bank of America, N.A.investor protection violation2023CFTC$8,000,000
Bank of America N.A.consumer protection violation2023private lawsuit-federal$8,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.