U.S. Treasury Fines Bank of America $1.2 Billion Over Alleged Legal Violations
The U.S. Treasury Department is fining Bank of America $1.2 billion for alleged violations of anti-money laundering and sanctions laws.
Shreveport Texarkana, LA, October 13, 2026 —
The U.S. Treasury Department is fining Bank of America $1.2 billion over alleged violations of anti-money laundering and sanctions laws, according to the information provided.
The allegations concern two areas of law: requirements related to preventing money laundering and restrictions imposed through sanctions. The available information does not describe the conduct underlying the allegations or identify the specific laws or rules involved.
Details about the action are limited. No date for the fine was provided, and the information does not state whether the department has issued a formal order, how the amount was determined, or whether Bank of America has responded. It also does not specify whether the bank admits or disputes the allegations.
The information provided does not identify any individuals, transactions, business units or locations connected to the alleged violations. It also does not say whether the matter includes additional penalties, corrective measures or other enforcement steps.
The stated amount is $1.2 billion. Beyond that figure and the general description of the alleged violations, further details about the case remain unspecified in the available summary.
Story summarized from the original created by PAUL WISEMAN and FARNOUSH AMIRI, Associated Press on www.ktalnews.com, see more information here.
Media gallery
