https://www.live-feeds.com/feed/bank-of-america-hit-with-1-2b-in-penalties-over-money-laundering-compliance-failuresContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/bank-of-america-hit-with-1-2b-in-penalties-over-money-laundering-compliance-failureshttps://www.live-feeds.com/feed/bank-of-america-hit-with-1-2b-in-penalties-over-money-laundering-compliance-failures#u135685Mon, 19 Oct 2026 11:41:30 +0000The United States government imposed approximately $1.21 billion in penalties against Bank of America due to widespread failures in policing suspicious activity, anti-money laundering controls, and sanctions regulations. The Treasury Department action ranks as the third-largest enforcement action in the department's history. Federal regulators penalize the nation's second-largest bank for overlooking illicit activity that allegedly involves Chinese money laundering and narcotics trafficking. Bank of America also reached an $11.6 million settlement with the Treasury's Office of F