Bank of America Corporation (NYSE: BAC)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Bank of America Corporation (NYSE: BAC).  

On July 11, 2023, the Consumer Financial Protection Bureau announced that an investigation found that the Company had harmed hundreds of thousands of customers across multiple product lines over a period of several years through a series of illegal practices including double charging insufficient fund fees, withholding reward bonuses and opening accounts without customers’ knowledge or permission. As a result, the Company was ordered to pay over $100 million to customers and another $90 million in penalties, as well as a separate $60 million fine ordered by the Office of the Comptroller of the Currency for violating laws regarding overdraft fees.

KSF’s investigation is focusing on whether Bank of America’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.  If you have information that would assist KSF in its investigation, or have been a long-term holder of Bank of America shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.