On October 20, 2026, several securities law firms, including Bleichmar Fonti & Auld LLP and Hagens Berman, announced investigations and the filing of class-action lawsuits against Bank of America. The actions involve allegations of potential securities fraud and breaches of fiduciary duty tied to violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws.
The announcements followed the U.S. Treasury Department’s October 13, 2026, imposition of more than $1.21 billion in penalties against the bank for compliance failures. The lawsuits allege that Bank of America made misleading statements about its compliance controls and failed to disclose material risks.
The bank’s stock price fell 4.76% on October 14, 2026. Investors are seeking legal recourse.