Bank of America faces $1.2 billion Treasury penalty ahead of Q3 earnings
The U.S. Treasury announced a penalty exceeding $1.21 billion against Bank of America for anti‑money‑laundering and sanctions violations, marking the third‑largest penalty in Treasury history.
Key points
- Treasury penalty totals more than $1.21 billion, the third‑largest in its history.
- FinCEN assessed a $1.2 billion charge for anti‑money‑laundering violations.
- OFAC settled 475 apparent sanctions violations for $11.6 million.
- OCC imposed a $750 million civil money penalty, its largest ever.
On October 13, 2026, the U.S. Department of the Treasury announced a penalty of more than $1.21 billion against Bank of America (NYSE:BAC) for anti‑money‑laundering and sanctions violations, describing it as the third‑largest penalty in Treasury’s history.
The Financial Crimes Enforcement Network assessed a $1.2 billion charge and the Office of Foreign Assets Control settled 475 apparent sanctions violations for $ 11.6 million; the Office of the Comptroller of the Currency also assessed $ 750 million in civil money penalty as the largest in its …
Your questions, answered
How much is the Treasury penalty against Bank of America?
The penalty exceeds $1.21 billion, including a $1.2 billion FinCEN charge and a $750 million OCC civil penalty.
Which agencies imposed penalties on Bank of America?
The Financial Crimes Enforcement Network, Office of Foreign Assets Control and Office of the Comptroller of the Currency each assessed separate penalties.
Why was Bank of America penalized?
For anti‑money‑laundering and sanctions violations identified by Treasury regulators.
Quick poll
Do you think the penalty against Bank of America is sufficient?
0 votes
How does this story make you feel?
Topics
Up next · BusinessBending Spoons stock volatility leaves investors uncertain
