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Company: Bank of America N.A.
Current Parent Company:
Bank of America
Parent at the Time of the Penalty Announcement:
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Penalty: $5,950,000
Year: 2021
Date: November 17, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Bank of America agreed to pay nearly $6 million to settle litigation alleging it tricked credit card customers into selecting a higher interest option.
Level of Government: federal
Action Type: private litigation
Court: District of New Jersey
Civil or Criminal Case: civil
Case ID: 2:20cv6791
Case Name: Jette v. Bank of America, N.A.
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:
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Link to Archived Court Document:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
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