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Violation Tracker Individual Record

Company: Bank of America, N.A.
Current Parent Company: Bank of America
Penalty: $8,000,000
Year: 2014
Date: June 24, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: banking violation
Violation Description: Bank of America agreed to agreed to pay $8 million to settle litigation claiming it breached its fiduciary duty by investing trustee accounts it administers in the bank's affiliated mutual funds.
Level of Government: federal
Action Type: private litigation
Court: Northern District of California
Civil or Criminal Case: civil
Case ID: 4:08cv2705
Case Name: Stoody-Broser 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
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.