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Violation Tracker Individual Record

Company: Bank of America N.A.
Current Parent CompanyBank of America
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $19,610,000
Year: 2013
Date: January 23, 2013
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: Bank of America agreed to pay an estimated $19 million to settle litigation alleging it improperly credited homeowner payments after it took over the servicing operations of Taylor Bean & Whitaker.
Level of Government: federal
Action Type: private litigation
Court: Central District of Illinois
Civil or Criminal Case: civil
Case ID: 2:10cv2052
Case Name: Vought et al v. Bank Of America 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
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.