Better Health for All

Bank of America's core financial services products have a neutral direct impact on health outcomes, safety, and do not carry health risks or addiction potential. The company does not produce health-related products, food, or pharmaceuticals, nor does it conduct clinical trials or manage health data. However, Bank of America has made substantial commitments to health-related initiatives. This includes a $40 million investment to expand community health centers in medically underserved areas

and a $25 million commitment over four years to reduce health disparities in communities of color across 11 cities, focusing on prevention, education, and access to screenings . The company also donated $10 million to a program providing on-site virtual healthcare and behavioral health teletherapy in schools , and $1 million to a program improving children's health by repairing homes in West Philadelphia . Additionally, Bank of America co-hosted and hosted forums focused on healthcare innovation and investment strategies.

Fair Money & Economic Opportunity

Bank of America has faced significant regulatory actions and settlements for unfair and discriminatory practices. In July 2023, the CFPB and OCC imposed a $150 million fine on the company for opening fake customer accounts, imposing excessive fees, and withholding credit card rewards.

In August 2023, its subsidiary Merrill Lynch settled a class-action lawsuit for nearly $20 million, addressing allegations of racial discrimination against Black financial advisers. Furthermore, in December 2011, the company settled a Justice Department complaint for $335 million related to its Countrywide subsidiary charging higher interest rates and fees to approximately 200,000 minority borrowers.

Fair Pay & Worker Respect

Bank of America reported over 99% pay equity for women globally and non-White employees in the U.S. in comparable positions in 2024.

The employee engagement index was 84% in 2024. , with 87% participation in the survey. The employee turnover rate was 8% in 2024. In 2017, the CEO-median worker pay ratio was 250:1. The company increased its minimum hourly wage for U.S. employees to $24 in October 2024. , , with a commitment to reach $25 by 2025. In 2023, Bank of America agreed to a $20 million settlement over allegations of racial discrimination against Black advisers. A class action lawsuit was filed in November alleging systemic violations of the Fair Labor Standards Act and state labor laws for at least seven years, including failure to pay overtime and minimum wage to loan officers. No U.S.-based employees are subject to collective bargaining agreements. , The company offers employee benefits including healthcare, tuition reimbursement, and parental leave, with U.S. health insurance premiums for employees earning less than $50,000 remaining unchanged for 12 consecutive years. An Employee Assistance Program provides 12 in-person confidential counseling sessions and unlimited phone consultations at no cost to teammates and household members.

Fair Trade & Ethical Sourcing

Bank of America logged and addressed 3 observations regarding potential supplier issues related to modern slavery in 2022

and 5 such observations in 2023. As a financial services company, it has no material sourcing of at-risk physical commodities like conflict minerals or uncertified palm oil.

Honest & Fair Business

Bank of America has incurred significant ethics-related regulatory fines in the past three years, totaling $690 million.

This includes an order in April 2025 to pay over $540 million to the FDIC for underpaying mandatory deposit insurance assessments. Additionally, in July 2023, the company was fined $150 million by the CFPB and OCC for opening unauthorized customer accounts, charging excessive fees, and withholding credit card rewards, with employees opening accounts without consent to meet sales targets.

Kind to Animals

Bank of America lacks specific policies addressing animal welfare, and animal welfare is absent from its governance documents, indicating no public position on animal welfare legislation or silence on industry standards.

External assessments by Sinergia Animal confirm the absence of meaningful animal welfare policies. As a financial services institution, Bank of America does not engage in activities such as product manufacturing, animal testing, animal husbandry, or direct sourcing of animal products. Therefore, KPIs related to cruelty-free certification, alternative testing, humane operations, ethical input substitution, supplier audits for animal welfare, cage-free sourcing, animal testing policies and volume, innovation investment in animal-free technologies, animal agriculture ethics, and animal-free R&D collaboration are not applicable and score 0. For wildlife conservation impact, while the company has facilitated and provided some financial support for conservation initiatives, the articles do not provide specific, measurable biodiversity impact or species recovery metrics, nor a percentage of revenue funding, which are required by the rubric for scoring. The company's financing of industrial animal agriculture, totaling billions, is noted to contribute to greenhouse gas emissions and animal welfare concerns, but these activities do not map to specific KPIs in the rubric.

No War, No Weapons

Bank of America publicly states its alignment with the UN Guiding Principles on Business and Human Rights

. However, a 2024 third-party benchmark categorized the bank as a 'Follower' with a score of 6 out of 15, indicating it does not fully meet its human rights responsibilities under these principles . The company's Supplier Expectations include a codified red line against the proliferation of weapons of mass destruction for suppliers . Despite this, its Human Rights Statement explicitly notes that it does not codify ethical 'red lines' such as bans on cluster munitions . In 2016, Bank of America was identified as investing $28 billion in cluster munitions manufacturers , and there is no evidence of subsequent divestment or verified zero exposure to controversial weapons . Furthermore, in May 2024, the bank eased its restrictions on financing assault-style gun manufacturers , , reversing a 2018 commitment to stop financing military-style firearms for civilian use , . There is no evidence of defense-related assets being successfully divested; instead, previous restrictions on firearms financing have been relaxed , .

Respect for Cultures & Communities

Bank of America has provided financial support to various cultural and community initiatives. In 2023, the company awarded a $1 million grant to the National Juneteenth Museum

and committed $2 million to the Grove Park Foundation for a cultural arts center in Atlanta . Additionally, in 2023, Bank of America supported 23 cultural institutions for the preservation of cultural works . Since 2020, the company has provided over $17 million to nonprofit partners addressing critical needs in Native American communities, including grants for health, hunger, workforce development, and small business, and has expanded educational partnerships . Bank of America also supports its Native American employees through an internal professional network .

Safe & Smart Tech

Bank of America experienced a data breach around November 2023, affecting 57,028 customers through a third-party vendor.

Compromised data included names, addresses, dates of birth, and Social Security numbers. The company offered affected customers a two-year membership to Experian IdentityWorks for identity theft protection. In terms of user data control, Bank of America offers comprehensive opt-out options for tracking, targeted advertising, and marketing, and allows users to revoke permissions for third-party applications. The bank was recognized as 'Best in Class' in Javelin's 2024 Cyber Trust in Banking Scorecard.

Zero Waste & Sustainable Products

Bank of America uses 80% post-consumer recycled plastic for its credit and debit cards as of 2024.

The company has implemented various waste reduction initiatives, including electronic document distribution, comprehensive waste tracking, and a 'Make it Second Nature' campaign, which resulted in recycling over 30,000 tons of materials. For hazardous waste, 100% of electronic waste was disposed of using certified responsible suppliers in 2024. The company has a specific waste reduction target to divert 75% of construction and demolition waste from landfills by 2030, a rate it achieved in 2024. In 2024, the company recorded one non-monetary environmental regulation violation.