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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 TypeYearAgencyPenalty Amount sort icon
Merrill Lynchinvestor protection violation2010FINRA$2,500,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2014FINRA$2,440,000
Bank of Americawage and hour violation2016private lawsuit-federal$2,250,000
Bank of America Corpemployment discrimination2013OFCCP$2,181,593
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2013MO-SEC$2,121,579
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2013FINRA$2,000,000
Bank of America Corp.consumer protection violation2013WV-AG$1,950,000
Bank of America, N.A.consumer protection violation2017CA-MULTI$1,940,000
Bank of Americawage and hour violation2017private lawsuit-federal$1,900,000
Bank of Americawage and hour violation2024private lawsuit-federal$1,890,000
Countrywide Home Loans Inc.consumer protection violation2008NC-BKG$1,611,500
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2004FINRA$1,600,000
Merrill Lynchemployment discrimination2008EEOC$1,550,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2006SEC$1,500,000
Banc of America Investment Services, Inc., and Bacap Distributors, LLCinvestor protection violation2005SEC$1,500,000
Bank of America N.A.price-fixing or anti-competitive practices2020private lawsuit-federal$1,500,000
Merrill Lynch, Pierce, Fenner & Smith Incinvestor protection violation2018SEC$1,404,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2017FINRA$1,400,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2013FINRA$1,373,000
Banc of America Securities LLCinvestor protection violation2010NJ-AG$1,268,393
Merrill Lynchinvestor protection violation2014CFTC$1,200,000
Countrywide Financial CorporationWARN Act violation2013private lawsuit-federal$1,200,000
Bank of America N.A.consumer protection violation2022private lawsuit-federal$1,200,000
Countrywide Financial Corp.mortgage abuses2009RI-AG$1,146,000
Bank of America, National Associationbanking violation2015OCC$1,104,530
Merrill Lynchinvestor protection violation2012FINRA$1,074,200
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2009SEC$1,000,000
Bank of Americaemployment discrimination2017OFCCP$1,000,000
Countrywide Financial Corporationmortgage abuses2009OR-AG$1,000,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2014FINRA$1,000,000
Merrill Lynch, Pierce, Fenner & Smithinvestor protection violation2012FINRA$1,000,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2011FINRA$1,000,000
Bank of America Corp.workplace whistleblower retaliation2011OSHA$930,000
Banc of America Securities LLCinvestor protection violation2006SEC$750,000
Merrill, Lynch, Pierce, Fenner and Smith, Inc.investor protection violation2010NJ-AG$728,260
Merrill Lynch, Pierce, Fenner and Smith Inc.privacy violation2023NH-BSR$700,000
Bank of Americamortgage abuses2015MA-AG$675,000
Bank of Americawage and hour violation2010private lawsuit-federal$661,392
Countrywide Home Loans Inc.consumer protection violation2010WA-FIN$650,000
Bank of America, N.A.consumer protection violation2018private lawsuit-federal$550,000
Merrill Lynch & Co., Inc.wage and hour violation2008WHD$516,924
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2015SEC$500,000
Merrill Lynch Investment Managers, LLC and Merrill Lynch Alternative Investments, LLCdata submission deficiencies2007CFTC$500,000
Merrill Lynchinvestor protection violation2002DE-AG$500,000
Merrill Lynchinvestor protection violation2002NH-BSR$500,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2012FINRA$500,000
Merrill Lynchinvestor protection violation2009DE-AG$459,000
Merrill Lynchprivacy violation2014NH-BSR$400,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2020CT-SEC$400,000
Merrill Lynchinvestor protection violation2011CFTC$350,000
Bank of Americaprivacy violation2009CT-AG$350,000
Countrywide Financial Corporationmortgage abuses2009WV-AG$340,901
Merrill Lynch, Pierce and Fenner & Smith, Incorporatedinvestor protection violation2020SEC$325,376
Merrill Lynchtoxic securities abuses2009MA-AG$300,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2019CFTC$300,000
Bank of America, N.A.Americans with Disabilities Act2020DOJ_RIGHTS$300,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2019FINRA$280,000
MERRILL LYNCH PIERCE FENNER &investor protection violation2004VA-SEC$268,723
Bank of America Corporationwage and hour violation2006WHD$265,774
Banc of America Investment Services, Inc.investor protection violation2006IL-SEC$250,000
Merrill Lynchinvestor protection violation2008FINRA$250,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2004FINRA$250,000
MBNAenvironmental violation2002DE-ENV$225,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2008FINRA$200,000
Banc of America Investment Services Inc.investor protection violation2004FINRA$200,000
Bank of America Corp.privacy violation2010MO-AG$195,000
Merrill Lynch, Pierce, Fenner & Smith Inc.benefit plan administrator violation2011EBSA$170,854
Countrywide Financial Corporationmortgage abuses2009SD-AG$161,805
Bank of Americadiscriminatory practices (non-employment)2012HUD$161,180
Bank of Americaeconomic sanction violation2003OFAC$158,038
Banc of America Investment Services, Inc.investor protection violation2009SEC$150,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2009FINRA$150,000
Lasalle Bank MidWest National Associationbanking violation2007OCC$125,000
Merrill Lynchinvestor protection violation2020VT-FIN$125,000
Merrill Lynch, Pierce, Fenner & Smith Incorporatedinvestor protection violation2018VT-FIN$120,000
Bank of Americaemployment discrimination2014EEOC$110,000
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2004FINRA$109,527
FleetBoston Financial Corporationprivacy violation2001NY-AG$100,000
Merrill Lynch, Pierce, Fenner & Smith, Inc.investor protection violation2000FINRA$97,000
Banc of America Investment Services, Inc.investor protection violation2005FINRA$90,000
Lasalle Bank National Associationbanking violation2007OCC$79,524
Merrill Lynch, Pierce, Fenner & Smith, Incorporatedinvestor protection violation2006VA-SEC$75,000
Countrywide Financial Corporationwage and hour violation2004WHD$54,453
Countrywide Home Loans, Inc.consumer protection violation2010IL-BKG$54,000
Bank of Americadiscriminatory practices (non-employment)2006MA-AG$50,000
Bank of Americaenvironmental violation2007CA-SCAQMD$46,000
Bank of Americadiscriminatory practices (non-employment)2013HUD$45,000
Bank of Americaexport control violation2017BIS$44,625
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2007IL-SEC$40,000
Banc of America Securities LLCinvestor protection violation2001FINRA$40,000
Merrill Lynch, Pierce, Fenner & Smith, Incorporatedinvestor protection violation2006VA-SEC$33,000
Bank of Americaemployment discrimination2016EEOC$30,000
Bank of America, National Associationenvironmental violation2013VA-ENV$27,625
Bank Of Americawage and hour violation2016MI-LEO$23,500
Bank Of Americawage and hour violation2016MI-LEO$23,500
Merrill Lynch, Pierce, Fenner & Smith, Inceconomic sanction violation2004OFAC$22,904
Bank of Americadiscriminatory practices (non-employment)2013HUD$22,449
Merrill Lynch, Pierce, Fenner & Smith Inc.investor protection violation2009MO-SEC$20,000
Bank of America, N.A.wage and hour violation2010WHD$18,654
Bank of America, National Associationlabor relations violation2013NLRB$18,634
Fleet National Bankenvironmental violation2000RI-ENV$18,034
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.