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Violation Tracker Individual Record

Company: FleetBoston Financial Corp
Current Parent CompanyBank of America
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $83,401,000
Year: 2008
Date: October 15, 2008
Offense Group: employment-related offenses
Primary Offense: benefit plan administrator violation
Secondary Offense: pension ERISA violation
Violation Description: A group of employees of FleetBoston, now part of Bank of America, alleged that the company engaged in age discrimination when it switched its pension plan to a cash balance system.
Level of Government: federal
Action Type: private litigation
Court: District of Connecticut
Civil or Criminal Case: civil
Case ID: 3:04-cv-1638
Case Name: Richards v. FleetBoston Financial Corp 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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.