Violation Tracker Individual Record

Bank of America, N.A.
Current Parent Company: 
Bank of America
Primary Offense: 
consumer protection violation
Secondary Offense: 
banking violation
Violation Description: 

The Consumer Financial Protection Bureau ordered Bank of America, N.A. and FIA Card Services, N.A. to provide an estimated $727 million in relief to consumers harmed by practices related to credit card add-on products. Bank of America was also accused of illegally charging approximately 1.9 million consumer accounts for credit monitoring and credit reporting services that they were not receiving. Bank of America was required to pay a $20 million civil money penalty to the CFPB.

April 9, 2014
Consumer Financial Protection Bureau
Civil or Criminal Case: 
HQ Country of Parent: 
HQ State of Parent: 
North Carolina
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.