Bank of America Corporation Rotten Score Breakdown

Bank of America agreed to a $16.65 billion federal and state settlement resolving claims concerning the packaging, origination, marketing and sale of residential mortgage-backed securities and related conduct by Bank of America and acquired entities including Countrywide and Merrill Lynch. Source: https://www.justice.gov/archives/opa/pr/bank-america-pay-1665-billion-historic-justice-department-settlement-financial-fraud-leading

The CFPB found Bank of America repeatedly charged NSF fees on the same transaction, withheld promised credit-card rewards and opened some credit-card accounts without consumer consent. The 2023 actions required more than $100 million in consumer redress and $150 million in CFPB and OCC penalties. Source: https://www.consumerfinance.gov/archive/newsroom/bank-of-america-for-illegally-charging-junk-fees-withholding-credit-card-rewards-opening-fake-accounts/