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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: $87,286,650,890
Number of records: 328
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
consumer-protection-related offenses$44,251,859,04278
financial offenses$41,332,842,096155
employment-related offenses$887,723,42865
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$13,801,013,962118
consumer protection violation$4,256,482,30243
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 Type sort iconYearAgencyPenalty Amount
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2008FINRA$200,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2006FINRA$5,000,000
Merrill Lynch, Pierce, Fenner & Smithinvestor protection violation2005FINRA$14,000,000
Banc of America Investment Services, Inc.investor protection violation2005FINRA$90,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2004FINRA$1,600,000
Banc of America Investment Services Inc.investor protection violation2004FINRA$200,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2004FINRA$250,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2004FINRA$109,527
Banc of America Securities LLCinvestor protection violation2001FINRA$40,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2001FINRA$15,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2000FINRA$97,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2021FINRA$11,650,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2022FINRA$15,200,000
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
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2023SEC$9,660,000
Bank of America, N.A.investor protection violation2023CFTC$8,000,000
BofA Securities, Inc.investor protection violation2023FINRA$24,000,000
Merrill Lynch Life Insurance Companyinsurance violation2000SC-INS$5,000
Banc of America Securities LLCfraud2007SEC$26,000,000
Bank of Americafraud2016DC-AG$13,000,000
Bank of Americafraud2010DC-AG$13,502,852
Bank of AmericaFamily and Medical Leave Act2008WHD$6,500
Bank of AmericaFamily and Medical Leave Act2017WHD$14,528
Bank of AmericaFalse Claims Act and related2001AK-AG$35,600,000
Bank of Americaexport control violation2017BIS$44,625
MBNAenvironmental violation2002DE-ENV$225,000
Fleet National Bankenvironmental violation2000RI-ENV$18,034
Bank Of America NAenvironmental violation2005TX-ENV$12,480
Bank of America, National Associationenvironmental violation2013VA-ENV$27,625
Bank of Americaenvironmental violation2007CA-SCAQMD$46,000
Countrywide Home Loansenvironmental violation2000CA-SCAQMD$5,000
Bank of America Corpemployment discrimination2013OFCCP$2,181,593
Bank of Americaemployment discrimination2014EEOC$110,000
Bank of Americaemployment discrimination2016EEOC$30,000
Merrill Lynchemployment discrimination2008EEOC$1,550,000
Bank of Americaemployment discrimination2017OFCCP$1,000,000
Merrill Lynchemployment discrimination2013private lawsuit-federal$38,225,000
Merrill Lynchemployment discrimination2013private lawsuit-federal$160,000,000
Banc of America Investment Servicesemployment discrimination2009private lawsuit-federal$7,200,000
Bank of Americaemployment discrimination2019OFCCP$4,200,000
Bank of America N.A.economic sanction violation2014OFAC$16,562,700
Bank of Americaeconomic sanction violation2004OFAC$13,573
Merrill Lynch, Pierce, Fenner & Smith, Inceconomic sanction violation2004OFAC$22,904
Bank of Americaeconomic sanction violation2003OFAC$158,038
Bank of Americadiscriminatory practices (non-employment)2013HUD$45,000
Bank of Americadiscriminatory practices (non-employment)2013HUD$22,449
Bank of Americadiscriminatory practices (non-employment)2013HUD$7,500
Bank of Americadiscriminatory practices (non-employment)2012HUD$161,180
Bank of Americadiscriminatory practices (non-employment)2006MA-AG$50,000
Bank of America, NAdiscriminatory practices (non-employment)2005private lawsuit-federal$3,670,000
Bank of America, N.A.discriminatory practices (non-employment)2022HUD$15,000
Merrill Lynch Investment Managers, LLC and Merrill Lynch Alternative Investments, LLCdata submission deficiencies2007CFTC$500,000
Countrywide Home Loans, Inc. and BAC Home Loans Servicing LPconsumer protection violation2010FTC$108,000,000
Bank of America, N.A.consumer protection violation2014CFPB$747,000,000
Bank of Americaconsumer protection violation2014HI-AG$2,825,000
Bank of America Corp.consumer protection violation2013WV-AG$1,950,000
Countrywide Home Loans, Inc.,consumer protection violation2006NY-AG$3,200,000
Bank of America, N.A.consumer protection violation2017CA-MULTI$1,940,000
Countrywide Home Loans, Inc.consumer protection violation2010IL-BKG$54,000
Countrywide Home Loans Inc.consumer protection violation2008NC-BKG$1,611,500
Countrywide Home Loans Inc.consumer protection violation2010WA-FIN$650,000
Bank of Americaconsumer protection violation2022CFPB$10,000,000
Bank of Americaconsumer protection violation2013private lawsuit-federal$20,000,000
Bank of America et al.consumer protection violation2020private lawsuit-federal$252,500,000
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
Bank of America N.A.consumer protection violation2021private lawsuit-federal$5,950,000
Bank of America N.A.consumer protection violation2020private lawsuit-federal$35,000,000
Bank of America N.A.consumer protection violation2020private lawsuit-federal$4,950,000
Bank of America N.A.consumer protection violation2018private lawsuit-federal$1,266,600,000
Bank of America N.A.consumer protection violation2018private lawsuit-federal$41,920,374
Bank of America N.A.consumer protection violation2017private lawsuit-federal$29,000,000
Bank of America N.A.consumer protection violation2016private lawsuit-federal$3,000,000
Bank of America N.A.consumer protection violation2015private lawsuit-federal$34,500,000
Bank of America N.A.consumer protection violation2014private lawsuit-federal$228,000,000
Bank of America N.A.consumer protection violation2014private lawsuit-federal$31,000,000
Bank of America N.A.consumer protection violation2014private lawsuit-federal$8,250,000
Bank of America N.A.consumer protection violation2013private lawsuit-federal$100,000,000
Bank of America N.A.consumer protection violation2013private lawsuit-federal$19,610,000
Bank of America N.A.consumer protection violation2011private lawsuit-federal$410,000,000
Bank of America, N.A.consumer protection violation2019private lawsuit-federal$22,000,000
Bank of America, N.A.consumer protection violation2018private lawsuit-federal$550,000
Bank of America, N.A.consumer protection violation2016private lawsuit-federal$27,500,000
Bank of America, N.A.consumer protection violation2014private lawsuit-federal$8,000,000
Bank of America, N.A.consumer protection violation2011private lawsuit-federal$9,950,000
Bank of America, N.A. (USA)consumer protection violation2015private lawsuit-federal$10,000,000
Countrywide Financial Corporationconsumer protection violation2013private lawsuit-federal$500,000,000
Countrywide Financial Corporationconsumer protection violation2011private lawsuit-federal$34,000,000
MBNA Corp.consumer protection violation2001private lawsuit-federal$8,700,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedconsumer protection violation2015private lawsuit-federal$10,571,428
Merrill Lynch, Pierce, Fenner & Smith Incorporatedconsumer protection violation2012private lawsuit-federal$11,500,000
Bank of Americaconsumer protection violation2023CFPB$90,000,000
Bank of America N.A.consumer protection violation2023OCC$60,000,000
Bank of America N.A.consumer protection violation2023private lawsuit-federal$8,000,000
Bank of Americaconsumer protection violation2023CFPB$12,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc.benefit plan administrator violation2011EBSA$170,854
FleetBoston Financial Corpbenefit plan administrator violation2008private lawsuit-federal$83,401,000
Bank of America Corpbenefit plan administrator violation2011private lawsuit-federal$21,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedbenefit plan administrator violation2017private lawsuit-federal$25,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.