FILE - The Bank of America logo is displayed on a sign in front of a Bank of America office on July 16, 2025 in Sunnyvale, California. (Photo by Justin Sullivan/Getty Images)
The Treasury Department is fining Bank of America $1.2 billion for allegedly violating anti-money laundering and sanctions laws.
The fines on America’s second-biggest bank amount to the third-largest in the department’s history.
Bank of America fined by Treasury
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Bank of America is the country’s second-largest bank.
The bank allegedly processed millions of dollars in payments that violated sanctions programs, including programs that targeted global terrorism and narcotics, according to The Washington Post.
This is a developing story. Check back for updates.
The Source: Information for this article was taken from reporting by The Associated Press and The Washington Post. This story was reported from San Jose.