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Violation Tracker Individual Record

Company: Bank of America N.A.
Current Parent Company: Bank of America
Penalty: $50,000,000
Year: 2018
Date: June 1, 2018
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Secondary Offense: interest rate benchmark manipulation
Mega-Scandal: Benchmark Manipulation
Violation Description: Bank of America agreed to pay $50 million to settle its role in litigation alleging that it conspired with other banks to manipulate the ISDAfix interest rate benchmark.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:14cv7126
Case Name: Alaska Electrical Pension Fund v. Bank of America Corporation et al
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Link to PACER Case Docket (must be logged in): (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.