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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$87,294,669,499
Number of records: 330
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
consumer-protection-related offenses$44,259,859,04279
financial offenses$41,333,342,096156
employment-related offenses$887,742,03766
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$13,801,513,962119
consumer protection violation$4,264,482,30244
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 TypeYearAgencyPenalty Amount sort icon
Merrill Lynch Pierce Fenner & Smith Inc.price-fixing or anti-competitive practices2020private lawsuit-federal$20,833,333
BAC Home Loans Servicing LP fka Countrywide Home Loans Servicing LPmortgage abuses2011DOJ_CIVIL$20,000,000
Bank of America Corporationinvestor protection violation2014SEC$20,000,000
Bank of America N.A.price-fixing or anti-competitive practices2014private lawsuit-federal$20,000,000
Bank of Americaconsumer protection violation2013private lawsuit-federal$20,000,000
Bank of America N.A.consumer protection violation2013private lawsuit-federal$19,610,000
Countrywide Securities Corporation and Merrill Lynch, Pierce, Fenner & Smith, Inc.toxic securities abuses2016VA-AG$19,500,000
Countrywide Securities Corp.mortgage abuses2013MA-AG$17,300,000
Bank of America N.A.price-fixing or anti-competitive practices2021private lawsuit-federal$17,000,000
Bank of Americawage and hour violation2010private lawsuit-state$16,650,000
Bank of America N.A.economic sanction violation2014OFAC$16,562,700
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2018SEC$15,700,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2022FINRA$15,200,000
Merrill Lynchwage and hour violation2016private lawsuit-federal$14,000,000
Merrill Lynch, Pierce, Fenner & Smithinvestor protection violation2005FINRA$14,000,000
Merrill Lynchtoxic securities abuses2008MA-AG$13,700,000
Bank of Americafraud2010DC-AG$13,502,852
LaSalle Bankbenefit plan administrator violation2011private lawsuit-federal$13,500,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedanti-money-laundering deficiencies2017SEC$13,000,000
Bank of Americafraud2016DC-AG$13,000,000
Merrill Lynchinvestor protection violation2016SEC$12,500,000
Merrill Lynchwage and hour violation2013private lawsuit-federal$12,000,000
Bank of Americaconsumer protection violation2023CFPB$12,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2021FINRA$11,650,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedconsumer protection violation2012private lawsuit-federal$11,500,000
Merrill Lynchinvestor protection violation2015SEC$10,900,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedconsumer protection violation2015private lawsuit-federal$10,571,428
Merrill Lynchinvestor protection violation2016SEC$10,000,000
Merrill Lynchinvestor protection violation2011SEC$10,000,000
Banc of America Securities LLCinvestor protection violation2004SEC$10,000,000
Merrill Lynchbenefit plan administrator violation2012private lawsuit-federal$10,000,000
Merrill Lynch Pierce Fenner & Smith Inc.investor protection violation2005NJ-AG$10,000,000
Bank of Americaconsumer protection violation2022CFPB$10,000,000
Bank of America, N.A. (USA)consumer protection violation2015private lawsuit-federal$10,000,000
Bank of America, N.A.consumer protection violation2011private lawsuit-federal$9,950,000
Banc of America Investment Services, Inc.investor protection violation2008SEC$9,763,634
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2023SEC$9,660,000
Countrywide Home Loans Inc.wage and hour violation2015private lawsuit-federal$9,649,000
Bank of Americawage and hour violation2015private lawsuit-federal$9,000,000
Bank of Americawage and hour violation2006private lawsuit-federal$9,000,000
Merrill Lynch, Pierce, Fenner & Smithinvestor protection violation2018SEC$8,900,000
Merrill Lynch, Pierce and Fenner & Smith Incorporatedinvestor protection violation2018SEC$8,872,723
MBNA Corp.consumer protection violation2001private lawsuit-federal$8,700,000
Bank of America N.A.consumer protection violation2014private lawsuit-federal$8,250,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2019SEC$8,014,000
Bank of America, N.A.consumer protection violation2014private lawsuit-federal$8,000,000
Bank of America, N.A.investor protection violation2023CFTC$8,000,000
Bank of America N.A.consumer protection violation2023private lawsuit-federal$8,000,000
Bank of America N.A.consumer protection violation2024private lawsuit-federal$8,000,000
Bank of America Corporationinvestor protection violation2014SEC$7,650,000
Bank of America Corp.anti-money-laundering deficiencies2006NY-MANDA$7,500,000
Banc of America Investment Servicesemployment discrimination2009private lawsuit-federal$7,200,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2020FINRA$7,200,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2016FINRA$7,030,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2009SEC$7,000,000
Bank of Americawage and hour violation2017private lawsuit-federal$7,000,000
Bank of America, N.A.price-fixing or anti-competitive practices2022private lawsuit-federal$7,000,000
Merrill Lynchwage and hour violation2014private lawsuit-federal$6,900,000
Bank of Americawage and hour violation2017private lawsuit-federal$6,600,000
Countrywide Financial Corp.privacy violation2010private lawsuit-federal$6,500,000
Lasalle Bank MidWest National Associationbanking violation2005OCC$6,250,000
Bank of America N.A.price-fixing or anti-competitive practices2020private lawsuit-federal$6,250,000
Bank of Americawage and hour violation2017private lawsuit-federal$6,000,000
Countrywide Financial Corp.mortgage abuses2009CO-AG$6,000,000
Merrill Lynchinvestor protection violation2014FINRA$6,000,000
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
Merrill Lynch, Pierce, Fenner & Smith Inc.securities issuance or trading violation2018FINRA$5,990,530
Bank of America N.A.consumer protection violation2021private lawsuit-federal$5,950,000
U.S. Trust Corporationbanking violation2001FED$5,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2000SEC$5,000,000
U.S. Trust Corporationanti-money-laundering deficiencies2001NY-DFS$5,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2016FINRA$5,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2006FINRA$5,000,000
BofA Securities, Inc.investor protection violation2022FINRA$5,000,000
Bank of America N.A.price-fixing or anti-competitive practices2020private lawsuit-federal$5,000,000
Bank of America N.A.consumer protection violation2020private lawsuit-federal$4,950,000
Merrill Lynchinvestor protection violation2010NJ-AG$4,871,620
Merrill Lynch, Pierce, Fenner & Smith Incorporatedtoxic securities abuses2021NM-AG$4,642,857
MBNA Corp.benefit plan administrator violation2009private lawsuit-federal$4,500,000
Bank of Americaemployment discrimination2019OFCCP$4,200,000
Bank of Americawage and hour violation2003private lawsuit-state$4,100,000
Bank of Americawage and hour violation2016private lawsuit-state$4,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2019FINRA$4,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2014FINRA$4,000,000
Bank of America, NAdiscriminatory practices (non-employment)2005private lawsuit-federal$3,670,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2006CT-SEC$3,500,000
Bank of Americawage and hour violation2016private lawsuit-federal$3,250,000
Countrywide Home Loans, Inc.,consumer protection violation2006NY-AG$3,200,000
Merrill Lynchinvestor protection violation2011FINRA$3,000,000
Banc of America Investment Services Inc.anti-money-laundering deficiencies2007FINRA$3,000,000
Bank of America N.A.consumer protection violation2016private lawsuit-federal$3,000,000
Bank of Americaconsumer protection violation2014HI-AG$2,825,000
Countrywide Home Loansmortgage abuses2009IN-AG$2,800,000
Merrill Lynch, Pierce, Fenner and Smith Inc.investor protection violation2016FINRA$2,800,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2012FINRA$2,800,000
Merrill Lynchwage and hour violation2016private lawsuit-state$2,645,000
Merrill Lynchinvestor protection violation2017CFTC$2,500,000
Bank of Americainvestor protection violation2017USAO$2,500,000
Bank of Americawage and hour violation2007private lawsuit-state$2,500,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2015MA-SEC$2,500,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.