Violation Tracker Individual Record
Company:
Bank of America
Current Parent Company:
Bank of America
Penalty:
$50,000
Year:
2006
Date:
April 12, 2006
Primary Offense:
discriminatory practices
Violation Description:
Bank of America agreed to pay $50,000 to promote financial awareness for the Arab-American and Muslim communities as part of a settlement of allegations it had discriminated against customers with Arabic names when closing bank accounts on suspicion of terrorism or money laundering.
Level of Government:
state
Action Type:
agency action
Agency:
Massachusetts Attorney General
Civil or Criminal Case:
civil
Private Lawsuit Resolution Type:
settlement
Facility State:
Massachusetts
HQ Country of Parent:
USA
HQ State of Parent:
North Carolina
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
