San Diego, California--(Newsfile Corp. - October 14, 2026) - Johnson Fistel, PLLP is investigating potential claims on behalf of current, long-term shareholders of Bank of America Corporation (NYSE: BAC) against certain of its officers and directors for alleged breaches of fiduciary duty.

What Should Bank of America Shareholders Do?

If you have held Bank of America shares before 2024, and continue to hold shares, you may have standing to seek corporate governance reforms at Bank of America, including improvements to internal controls, regulatory compliance, and executive oversight.

To learn more, visit: https://www.johnsonfistel.com/investigations/bank-of-america-corp/

You may also contact Johnson Fistel, PLLP at jimb@johnsonfistel.com or (619) 814-4471. There is no cost or obligation to you.

Investigation Background

On October 13, 2026, the U.S. Treasury Department announced that its Financial Crimes Enforcement Network (FinCEN) had assessed a $1.2 billion penalty against Bank of America, N.A., a subsidiary of Bank of America Corporation. According to Treasury, the bank admitted that it willfully violated the Bank Secrecy Act by failing to maintain an adequate anti-money-laundering program, conduct required due diligence for foreign correspondent accounts, and file suspicious activity reports. The enforcement action addressed failures involving priority national-security risks, including Chinese money-laundering networks and illicit finance along the southwest border.

The coordinated action included a $750 million civil penalty imposed by the Office of the Comptroller of the Currency (OCC), which is credited against FinCEN's $1.2 billion penalty. The OCC found that the bank's transaction monitoring system failed to properly monitor trillions of dollars in transactions, resulting in numerous late suspicious activity reports involving billions of dollars. The OCC further stated that significant compliance deficiencies persisted after a December 2024 cease-and-desist order.

On October 14, 2026, Bank of America reported that its third-quarter results included a $1.2 billion regulatory settlement charge, reducing diluted earnings per share by $0.17. The company reported quarterly net income of $6.9 billion, compared with $8.3 billion in the third quarter of 2025.

Johnson Fistel is investigating whether certain officers and directors breached their fiduciary duties in connection with oversight of the company's Bank Secrecy Act and anti-money-laundering compliance programs, and whether shareholders may pursue remedies on the company's behalf.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318957

Source: Johnson Fistel, PLLP