Treasury Imposes $1.2 Billion in Fines on Bank of America
The U.S. Treasury Department is imposing $1.2 billion in fines on Bank of America for alleged violations of anti-money laundering and sanctions laws.
San Francisco Oakland San Jose, CA, October 14, 2026 —
The U.S. Treasury Department is imposing $1.2 billion in fines 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: requirements related to preventing money laundering and restrictions involving sanctions. The available information does not describe the conduct underlying the allegations, identify particular transactions or business units, or say when the alleged violations occurred.
The information also does not specify which Treasury office or agency is handling the matter, explain how the $1.2 billion figure is allocated, or state whether the amount represents one fine or multiple penalties. It does not provide details about any response from Bank of America or say whether the bank has admitted or disputed the allegations.
No date, location, investigation timeline, settlement terms or additional enforcement measures were provided. The status of the action beyond the statement that Treasury is imposing fines is also unclear; the available summary does not say whether the action is final, subject to appeal or part of an agreement.
As described, the penalties are tied to alleged violations. The information provided does not include supporting findings or documents that would give further detail about the case. Treasury’s stated action and the amount are the only specific details available, leaving the allegations’ scope and the process surrounding the fines unspecified.
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