Bank of America, N.A.
On November 28, 2023, the Bureau issued an order against Bank of America, N.A., which is a national bank headquartered in Charlotte, North Carolina with branches and ATMs located in 38 states and the District of Columbia. The order required Bank of America to pay a $12 million civil money penalty and to develop policies and procedures to ensure compliance with the Home Mortgage Disclosure Act (HMDA) and its implementing Regulation C.
On June 5, 2025, pursuant to the Bureau’s authority under 12 U.S.C. § 5563(b)(3) and under Paragraph 72 of the order, the Bureau terminated the order. Bank of America has fulfilled the obligations under the order, including, among other things, payment of a civil money penalty of $12 million, development of a compliance plan and an annual report, and implementation of improvements to its HMDA compliance management system.
Related documents
Order Terminating the Consent Order
Press release
CFPB Orders Bank of America to Pay $12 Million for Reporting False Mortgage Data