Bank of America hit with $1.2 billion penalty over money laundering allegations
Axios · 13 Oct 2026

Bank of America hit with $1.2 billion penalty over money laundering allegations

The Treasury Department on Tuesday announced more than $1.2 billion in penalties against Bank of America for years of failures to report suspicious transactions and address shortcomings in its anti-money-laundering program.Why it matters: The action includes the third-largest penalty in Treasury his


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