U.S. Treasury Imposes $1.2 Billion Fine on Bank of America
The U.S. Treasury Department has imposed a $1.2 billion fine on Bank of America for alleged violations of anti-money laundering and sanctions laws.
Clarksburg Weston, WV, October 13, 2026 —
The U.S. Treasury Department has imposed a $1.2 billion fine on Bank of America over alleged violations of anti-money laundering and sanctions laws, according to the information provided about the action.
The allegations concern two areas of law: anti-money laundering requirements and sanctions. The information provided does not describe the conduct at issue, identify the transactions or activity involved, or state when the alleged violations occurred. It also does not specify which Treasury office or agency handled the action.
No additional details were provided about how the fine was determined, whether the action includes other penalties or requirements, or whether Bank of America has responded. The information does not include a statement from the department or the bank, nor does it describe any findings, admissions, or dispute over the allegations.
The stated fine amount is $1.2 billion. The available account does not clarify whether that figure represents a final penalty, whether any portion is subject to further proceedings, or when payment is due. It also does not provide information about the status of the case beyond saying the Treasury Department has imposed the fine.
As a result, the announcement establishes the amount and the broad categories of alleged violations, but leaves key details about the underlying conduct and the enforcement action unspecified. Further information about the allegations, the department’s reasoning and the bank’s position was not included in the trend summary.
Story summarized from the original created by PAUL WISEMAN and FARNOUSH AMIRI, Associated Press on www.wboy.com, see more information here.
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