U.S. Dept of Treasury imposed more than $1.21 billion penalty against Bank of America for money laundering and sanctions law violations

 

"Today, the U.S. Department of the Treasury announced enforcement actions imposing more than $1.21 billion in penalties against Bank of America (“the Bank”), the second-largest bank in the United States, for violations of anti-money laundering and sanctions laws.  These actions include the third-largest penalty in Treasury history and the largest in the Office of the Comptroller of the Currency (OCC) history."

You can read the entire press release and order on the U.S. Treasury website.