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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 Total | Number of Records |
| consumer-protection-related offenses | $44,239,859,042 | 77 |
| financial offenses | $41,308,842,096 | 154 |
| employment-related offenses | $885,823,768 | 63 |
| competition-related offenses | $777,780,585 | 20 |
| government-contracting-related offenses | $35,600,000 | 1 |
| Top 5 Primary Offense Types | Penalty Total | Number of Records |
| mortgage abuses | $39,950,771,706 | 19 |
| toxic securities abuses | $23,208,942,857 | 11 |
| investor protection violation | $13,777,013,962 | 117 |
| consumer protection violation | $4,244,482,302 | 42 |
| banking violation | $4,179,637,532 | 14 |
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.
| Company | Primary Offense Type | Year  . | Agency | Penalty Amount |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | investor protection violation | 2004 | FINRA | $109,527 |
| Bank of America | economic sanction violation | 2003 | OFAC | $158,038 |
| Merrill Lynch, Pierce, Fenner & Smith, Incorporated | investor protection violation | 2003 | SEC | $200,000,000 |
| Merrill Lynch & Co. Inc. | accounting fraud or deficiencies | 2003 | SEC | $80,000,000 |
| Bank of America | wage and hour violation | 2003 | private lawsuit-state | $4,100,000 |
| BANK OF AMERICA | workplace safety or health violation | 2003 | OSHA | $5,000 |
| Merrill Lynch | investor protection violation | 2002 | DE-AG | $500,000 |
| Merrill Lynch | investor protection violation | 2002 | NY-AG | $100,000,000 |
| Merrill Lynch & Co. Inc. | investor protection violation | 2002 | MULTI-AG | (*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $100,000,000 |
| Merrill Lynch | investor protection violation | 2002 | NH-BSR | $500,000 |
| MBNA | environmental violation | 2002 | DE-ENV | $225,000 |
| U.S. Trust Corporation | banking violation | 2001 | FED | $5,000,000 |
| Bank of America | wage and hour violation | 2001 | private lawsuit-state | $22,000,000 |
| Bank of America | False Claims Act and related | 2001 | AK-AG | $35,600,000 |
| FleetBoston Financial Corporation | privacy violation | 2001 | NY-AG | $100,000 |
| U.S. Trust Corporation | anti-money-laundering deficiencies | 2001 | NY-DFS | $5,000,000 |
| Banc of America Securities LLC | investor protection violation | 2001 | FINRA | $40,000 |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | investor protection violation | 2001 | FINRA | $15,000 |
| MBNA Corp. | consumer protection violation | 2001 | private lawsuit-federal | $8,700,000 |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | investor protection violation | 2000 | SEC | $5,000,000 |
| Merrill Lynch Life Insurance Company | insurance violation | 2000 | SC-INS | $5,000 |
| Fleet National Bank | environmental violation | 2000 | RI-ENV | $18,034 |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | investor protection violation | 2000 | FINRA | $97,000 |
| Countrywide Home Loans | environmental violation | 2000 | CA-SCAQMD | $5,000 |
