Bank of America Faces $1.21 Billion-Plus Enforcement Action Over Money-Laundering Failures
Federal regulators announced more than $1.21 billion in combined penalties against Bank of America for failures involving anti-money-laundering controls and U.S. economic sanctions. The bank admitted willful violations of the Bank Secrecy Act as part of its settlement with the Treasury Department's Financial Crimes Enforcement Network (FinCEN).
