Bank of America

CA 2014 Community Banks / Credit Unions

DOJ Fraud

Penalty

$10 billion

Outcome

Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement for Financial Fraud Leading up to and During the Financial Crisis

Details

Bank of America — DOJ Enforcement (2014)

Outcome: Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement for Financial Fraud Leading up to and During the Financial Crisis

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement for Financial Fraud Leading up to and During the Financial Crisis

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