Treasury Fines Bank of America $1.2 Billion Over Alleged Violations

Binghamton, NY, October 13, 2026 —

The U.S. Treasury Department has fined Bank of America $1.2 billion over alleged violations of anti-money laundering and sanctions laws, according to the information provided. The summary identifies the bank, the agency and the amount of the fine, but does not describe the conduct underlying the allegations.

The violations are characterized as alleged. No details were provided about which transactions or activities were involved, when they occurred, or which sanctions requirements were at issue. The information also does not explain how the fine was calculated or identify the specific Treasury office or officials involved.

Details about the bank’s response were not provided. The summary does not say whether Bank of America disputed the allegations, accepted responsibility, reached an agreement with the department or plans to appeal. It also does not specify when the fine was announced or whether any other actions were taken alongside it.

The amount stated is $1.2 billion. No further information was supplied about payment terms, a deadline, or how the fine will be handled. Without additional details, the circumstances behind the action and its procedural status cannot be established from the available account.

The announcement concerns alleged breaches of anti-money laundering and sanctions laws, but the summary does not give particulars about the scope or duration of the alleged violations. Further information would be needed to explain the Treasury Department’s findings, the basis for the penalty and the bank’s position. The available information establishes only that the department imposed a $1.2 billion fine on Bank of America in connection with the allegations.

Story summarized from the original created by PAUL WISEMAN and FARNOUSH AMIRI, Associated Press on www.binghamtonhomepage.com, see more information here.

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