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Violation Tracker Individual Record

Company: Bank of America, N.A.
Current Parent Company: Bank of America
Penalty: $7,000,000
Year: 2022
Date: November 29, 2022
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Violation Description: Bank of America and a dozen other banks agreed to pay a total of $91 million to settle their role in litigation alleging that a group of major banks manipulated two Singapore interest rate benchmarks. Court documents did not specify how much each company would pay. Here we assume they each paid an equal share.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:16cv5263
Case Name: Frontpoint Asian Event Driven Fund, Ltd. et al v. Citibank, N.A. 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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Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.