U.S. Treasury Levies $1.2 Billion Fine Against Bank of America
The U.S. Treasury Department has levied a $1.2 billion fine against Bank of America for alleged violations of anti-money laundering and sanctions laws.
Burlington Plattsburgh, VT, October 13, 2026 —
The U.S. Treasury Department has levied a $1.2 billion fine against Bank of America 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 related to sanctions. The available information does not describe the conduct at issue, identify any transactions or individuals involved, or explain how the alleged violations occurred.
It also does not state when the Treasury Department levied the fine, which specific Treasury office or officials handled the matter, or whether the amount reflects a settlement or another form of agency action. No details were provided about the legal or administrative process underlying the penalty.
The information provided does not include a statement from Bank of America, whether the bank has disputed or accepted the allegations, or whether it plans to challenge the fine. It also does not specify whether the $1.2 billion figure is the full penalty or how it was calculated.
The Treasury Department’s action is described as a fine for alleged violations; the available details do not establish additional findings about the case. Further information about the allegations, the agency’s basis for the penalty and the bank’s response was not provided.
Story summarized from the original created by PAUL WISEMAN and FARNOUSH AMIRI, Associated Press on www.mychamplainvalley.com, see more information here.
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