Bank of America faces securities class action over BSA/AML compliance failures
Schall, Brown & Schwartz has initiated a class action lawsuit against Bank of America, alleging that the bank misled investors regarding deficiencies in its anti-money laundering controls.
Investors who held Bank of America stock between August 1, 2025, and October 13, 2026, are eligible to join a securities class action lawsuit. Law firm Schall, Brown & Schwartz LLP alleges that the bank violated federal securities laws by failing to maintain adequate Bank Secrecy Act and anti-money laundering (BSA/AML) programs.
The complaint contends that the bank provided misleading statements to the market, concealing systemic weaknesses that resulted in the failure to report billions of dollars in suspicious transactions. Furthermore, the lawsuit alleges that Bank of America failed to maintain an effective sanctions compliance program, despite documenting these issues internally. These failures, when revealed, resulted in significant losses for shareholders.
Lead plaintiff applications are due by December 15, 2026. As the class has not yet been certified, shareholders are encouraged to contact legal counsel to discuss their rights and options for participation.