Class Action Lawsuit Filed Against Bank of America Over Alleged AML Compliance Failures
Bronstein Gewirtz & Grossman, LLC has announced a class action lawsuit against Bank of America Corporation (NYSE: BAC) regarding alleged violations of federal securities laws. The complaint claims that the bank made false or misleading statements concerning its Bank Secrecy Act and Anti-Money Laundering (BSA/AML) compliance programs during the period between August 1, 2025, and October 13, 2026. The lawsuit alleges systemic weaknesses allowed for the improper monitoring of trillions of dollars in transactions and resulted in inaccurate suspicious activity reports. Furthermore, it claims Bank of America failed to adequately remediate deficiencies identified in a 2024 Consent Order and maintained inadequate sanctions compliance programs, exposing the company to significant regulatory penalties and costs.
Tickers: $BAC
Topics: anti-money laundering compliance failure regulatory investigation securities litigation