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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: $943,000,000
Year: 2014
Date: August 21, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Bank of America agreed to pay $943 million to six states to settle litigation concerning mortgage abuses. The six states and the amounts were: California ($300 million), Delaware ($45 million), Illinois ($200 million), Kentucky ($23 million), Maryland ($75 million) and New York ($300 million). This was part of a larger $16 billion settlement involving the federal government; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
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
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.