Violation Tracker Individual Record

Company: 
Bank of America
Current Parent Company: 
Bank of America
Penalty: 
$1,300,000,000
Year: 
2011
Date: 
January 3, 2011
Primary Offense: 
toxic securities abuses
Violation Description: 

Bank of America announced agreements with the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) to resolve repurchase claims involving certain residential mortgage loans sold to them by entities related to Countrywide Financial Corporation.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Freddie Mac
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
North Carolina
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.