https://www.live-feeds.com/feed/u-s-hits-bank-of-america-with-1-2-billion-fine-saying-it-violated-money-laundering-and-sanctions-lawsContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/u-s-hits-bank-of-america-with-1-2-billion-fine-saying-it-violated-money-laundering-and-sanctions-lawshttps://www.live-feeds.com/feed/u-s-hits-bank-of-america-with-1-2-billion-fine-saying-it-violated-money-laundering-and-sanctions-laws#u131823Sun, 18 Oct 2026 12:41:51 +0000The U.S. Treasury Department is fining Bank of America $1.2 billion for violating anti-money laundering and sanctions laws. The penalty stands as the third-largest in the history of the Treasury Department. Officials state the nation's second-biggest bank willfully violated the 1970 Bank Secrecy Act by failing to properly help the government detect and prevent money laundering. Additionally, the bank settled with the Office of Foreign Assets Control for $11.6 million regarding apparent violations of multiple sanctions programs. The massive financial penalty weighed heavily on third-quarte