US Treasury hits Bank of America with over $1.2 billion in penalties over suspicious transactions and Chinese money-laundering links

Bank of America faces a $1.21B Treasury penalty for anti-money-laundering and sanctions violations, reducing Q3 net income by ~17 cents per share. The bank admitted to failing to report over $5B in suspicious transactions. Analysts expect Q3 EPS of $1.12 on revenue of $30.62B. Shares fell 1.14% to $53.96 on Tuesday and 2.29% in after-hours trading.

Bank of America faces $1.2B+ in penalties for anti-money laundering failures, admitting willful violations. Regulators cite $5B+ in unreported suspicious transactions. The bank will record a $1.2B charge, reducing Q3 earnings by ~17¢/share. Shares fell 2% after-hours. The penalty is the largest in OCC history and third-largest in FinCEN's history.

The U.S. Treasury imposed $1.21B in penalties on Bank of America for failing to report over $5B in suspicious activity, violating sanctions, and inadequate anti-money laundering compliance. The largest fine, $1.2B, is the third-largest in Treasury history. Bank of America admitted to willful violations and stated it is addressing the issues.

Bank of America faces $1.21B in penalties from the U.S. Treasury for anti-money laundering and sanctions law violations. The fine includes a $750M penalty from the OCC and $11.6M from the OFAC. The bank failed to report over $5B in suspicious transactions, including $1B tied to national security risks. The violations occurred from 2018 to 2025, according to the Treasury.

Bank of America was fined $1.2bn by the US Treasury for failing to detect and report over $5bn in suspicious activity, including potential money laundering. The bank admitted to violating the Bank Secrecy Act and will take a $1.2bn charge in its Q3 earnings, reducing EPS by 17 cents. The fine includes penalties from the OCC and OFAC.

Bank of America (BofA) will pay over $1.2 billion to settle federal claims of money laundering and sanctions evasion. The Treasury Department cited failures to flag threats, including Chinese networks and illicit cash. The fine includes a $750 million penalty from the OCC and a $11.6 million settlement with OFAC. BofA admitted violations of the Bank Secrecy Act. The fine will reduce Q3 net income by 17 cents per share, and its stock fell 2.5% in after-hours trading.