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Violation Tracker Individual Record

Company: Bank of America Corporation
Current Parent Company: Bank of America
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $9,300,000,000
Year: 2014
Date: March 26, 2014
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: The Federal Housing Finance Agency announced a settlement in cases involving Bank of America, Countrywide Financial, Merrill Lynch concerning alleged violations of federal and state securities laws in connection with private-label, residential mortgage-backed securities purchased by Fannie Mae and Freddie Mac between 2005 and 2007.
Level of Government: federal
Action Type: agency action
Agency: Federal Housing Finance Agency
Civil or Criminal Case: civil
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
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.