Bank of America Corporation Class Action Lawsuit - BAC
Case Summary
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The Bank of America class action lawsuit seeks to represent purchasers or acquirers of Bank of America Corporation (NYSE: BAC) common stock between August 1, 2025 and October 13, 2026, inclusive (the “Class Period”). Captioned New England Teamsters Pension Fund v. Bank of America Corporation, No. 26-cv-09137 (S.D.N.Y.), the Bank of America class action lawsuit charges Bank of America and certain of Bank of America’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Bank of America class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Bank of America class action lawsuit must be filed with the court no later than December 15, 2026.
CASE ALLEGATIONS: Bank of America is a multinational bank holding company that conducts most of its banking business through its wholly owned subsidiary, Bank of America, N.A. (“BANA”). Given the scale and nature of its operations, Bank of America must maintain effective controls to identify, investigate, and report suspicious activity and comply with the Bank Secrecy Act (“BSA”), anti-money laundering (“AML”) requirements, and applicable economic sanctions laws. On December 23, 2024, the Office of the Comptroller of the Currency (“OCC”), an agency of the U.S. Department of the Treasury, issued a cease-and-desist order against BANA (the “2024 Consent Order”).
The Bank of America class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) systemic weaknesses in BANA’s BSA/AML program caused it to fail to properly monitor trillions of dollars in transactions and to miss, delay, or file inaccurate or incomplete suspicious activity reports involving billions of dollars in suspicious activity; (ii) internal reports had documented BANA’s BSA/AML deficiencies for years, yet BANA had not adequately remedied them after the 2024 Consent Order; (iii) BANA also had deficiencies in its sanctions compliance program and processed transactions later identified as apparent violations of multiple sanctions programs; and (iv) fixing these deficiencies required significant additional compliance resources and exposed BANA to substantial penalties and costs.
On October 13, 2026, the U.S. Department of the Treasury announced coordinated enforcement actions against BANA resulting in more than $1.21 billion in penalties and settlements. The Financial Crimes Enforcement Network (“FinCEN”) assessed a $1.2 billion penalty, including credit for a $750 million penalty imposed by the OCC, and the Office of Foreign Assets Control separately announced an $11.6 million settlement. In its order, FinCEN stated that BANA admitted that it willfully violated the BSA and missed or delayed detecting and reporting more than $5 billion in suspicious activity. Then, on October 14, 2026, Bank of America reported its third quarter 2026 results, showing that the regulatory settlement charge reduced diluted earnings per share by $0.17. On this news, the price of Bank of America stock fell nearly 5%.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Bank of America common stock during the Class Period to seek appointment as lead plaintiff in the Bank of America class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Bank of America class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Bank of America class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Bank of America class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.