Violation Tracker Parent Company Summary

Parent Company Name: 
Bank of America
Ownership Structure: 
publicly traded (ticker symbol BAC)
Headquartered in: 
North Carolina
Major Industry: 
financial services
Specific Industry: 
banking
Penalty total since 2000: 
$82,885,116,051
Number of records: 
259
Top 5 Offense Groups (Groups Defined)Penalty TotalNumber of Records
financial offenses$80,776,735,945164
consumer-protection-related offenses$911,120,53423
employment-related offenses$880,145,91456
competition-related offenses$280,943,9199
government-contracting-related offenses$35,600,0001
Top 5 Primary Offense TypesPenalty TotalNumber of Records
mortgage abuses$39,950,771,70619
toxic securities abuses$23,204,300,00010
investor protection violation$13,535,778,962113
banking violation$3,954,637,53212
consumer protection violation$867,230,5009
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: 

For an overview of this company's accountability track record, read its Corporate Rap Sheet here.

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.
Download results as CSV or XML (maximum 10,000; for access to larger downloads contact Phil Mattera)
Company Primary Offense Type Yearsort icon Agency Penalty Amount
Bank of America wage and hour violation 2006 private lawsuit-federal $9,000,000
Merrill Lynch wage and hour violation 2006 private lawsuit-federal $37,000,000
Bank of America discriminatory practices (non-employment) 2006 MA-AG $50,000
Countrywide Home Loans, Inc., consumer protection violation 2006 NY-AG $3,200,000
Bank of America Corp. anti-money-laundering deficiencies 2006 NY-MANDA $7,500,000
Merrill Lynch, Pierce, Fenner & Smith Inc. investor protection violation 2006 CT-SEC $3,500,000
Banc of America Investment Services, Inc. investor protection violation 2006 IL-SEC $250,000
Merrill Lynch, Pierce, Fenner & Smith, Incorporated investor protection violation 2006 VA-SEC $75,000
Merrill Lynch, Pierce, Fenner & Smith, Incorporated investor protection violation 2006 VA-SEC $33,000
Merrill Lynch, Pierce, Fenner & Smith Inc. investor protection violation 2006 FINRA $5,000,000
Lasalle Bank MidWest National Association banking violation 2005 OCC $6,250,000
Banc of America Capital Management LLC, BACAP Distributors LLC and Banc of America Securities LLC investor protection violation 2005 SEC $375,000,000
Bank of America wage and hour violation 2005 WHD $12,824
Countrywide Financial wage and hour violation 2005 private lawsuit-state $30,000,000
Banc of America Investment Services, Inc., and Bacap Distributors, LLC investor protection violation 2005 SEC $1,500,000
Merrill Lynch Pierce Fenner & Smith Inc. investor protection violation 2005 NJ-AG $10,000,000
Merrill Lynch Pierce Fenner & Smith Inc. investor protection violation 2005 WI-FIN $7,000
Bank of America, NA discriminatory practices (non-employment) 2005 private lawsuit-federal $3,670,000
Bank Of America NA environmental violation 2005 TX-ENV $12,480
Merrill Lynch, Pierce, Fenner & Smith investor protection violation 2005 FINRA $14,000,000
Banc of America Investment Services, Inc. investor protection violation 2005 FINRA $90,000
Bank of America economic sanction violation 2004 OFAC $13,573
Merrill Lynch, Pierce, Fenner & Smith, Inc economic sanction violation 2004 OFAC $22,904
FleetBoston Financial Corporation investor protection violation 2004 SEC $140,000,000
Banc of America Securities LLC investor protection violation 2004 SEC $10,000,000
Bank of America Corporation wage and hour violation 2004 WHD $5,972
Countrywide Financial Corporation wage and hour violation 2004 WHD $54,453
Banc of America Capital Management LLC et al. investor protection violation 2004 NY-AG (*) $375,000,000
FleetBoston Financial Corp. investor protection violation 2004 NY-AG (*) $300,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc. investor protection violation 2004 FL-OFR $10,000
MERRILL LYNCH PIERCE FENNER & investor protection violation 2004 VA-SEC $268,723
Merrill Lynch, Pierce, Fenner & Smith, Inc. investor protection violation 2004 FINRA $1,600,000
Banc of America Investment Services Inc. investor protection violation 2004 FINRA $200,000
Merrill Lynch, Pierce, Fenner & Smith Incorporated investor protection violation 2004 FINRA $250,000
Merrill Lynch, Pierce, Fenner & Smith Inc. investor protection violation 2004 FINRA $109,527
Robertson Stephens, Inc. investor protection violation 2004 FINRA $275,000
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
Robertson Stephens Inc. investor protection violation 2003 SEC $33,000,000
FSC Corporation wage and hour violation 2003 WHD $108,716
Bank of America wage and hour violation 2003 private lawsuit-state $4,100,000
Robertson Stephens, Inc. investor protection violation 2003 FINRA (*) $14,000,000
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 (*) $100,000,000
Merrill Lynch investor protection violation 2002 NH-BSR $500,000
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
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
Download results as CSV or XML (maximum 10,000; for access to larger downloads contact Phil Mattera)