https://www.live-feeds.com/feed/bank-of-america-hit-with-1-2bn-fine-for-money-laundering-failingsContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/bank-of-america-hit-with-1-2bn-fine-for-money-laundering-failingshttps://www.live-feeds.com/feed/bank-of-america-hit-with-1-2bn-fine-for-money-laundering-failings#u126967Sat, 17 Oct 2026 07:21:16 +0000Bank of America must pay a $1.2 billion penalty after the US Treasury Department penalized the institution for failing to flag potential money laundering and violating sanctions laws. Treasury officials stated the lender neglected mandatory reporting for suspicious transactions exceeding $5 billion and missed transactions linked to potential Chinese money laundering networks. The penalty ranks as the third-largest fine in US Treasury history. The enforcement action coincided with weaker trading results and directly impacted the lender's third-quarter earnings, leading to a reported profit