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Posted on 10/13/2026 3:54:40 PM PDT by Libloather
The US Treasury Department said Tuesday that it’s imposing $1.2 billion in fines on Bank of America 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.
“When a bank of this size fails to meet its anti-money laundering and sanctions obligations, the consequences extend far beyond its own walls, exposing the entire U.S. financial system to significant illicit finance risks,” Treasury Secretary Scott Bessent said in a statement. “Today’s actions send a clear message that even the biggest financial institutions are not above the law.”
Treasury said Bank of America also reached an $11.6 million settlement with the department’s Office of Foreign Assets Control over “apparent violations of numerous sanctions programs, including on Iran, Russia, narcotics, and global terrorism.”
In a statement, Treasury said its Financial Crimes Enforcement Network assessed the $1.2 billion penalty for Bank of America’s “failure to mitigate and report priority national security risks, including Chinese Money Laundering Networks and illicit finance along the southwest border.’’
The penalty includes $750 million that will go to the U.S. Office of the Comptroller of the Currency, the largest fine ever imposed by that federal bank regulatory agency.
Treasury said that Bank of America “admits that it willfully violated’’ the 1970 Bank Secrecy Act, which requires banks to help the government detect and prevent money laundering.
(Excerpt) Read more at nypost.com ...
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Chump change.
GOOD! I hate BoA with the burning passion of 1,000 suns.
Got divorced, went to Asia, BoA allowed my ex-wife to cancel my cards while I was out of the country. (Which she did out of spite). I had a friend wire me $1000, so it all worked out. And when I got back and confronted them, they admitted it was wrong, and said they were sorry. End of story.
They’re monsters. I’ve heard too many stories about them.
The penalty includes $750 million that will go to the U.S. Office of the Comptroller of the Currency, the largest fine ever imposed by that federal bank regulatory agency.
I hear that Jonathan Gould has his eye on a new super yacht. and a luxury bunker in New Zealand.
Under the liberals, many fines were given to non profits for liberal purposes.
https://thelegalguide.org/where-do-legal-fines-fees-go-united-states/
So: who’s going to prison?
Civil law needs to be modified so as to make it easier to pierce the corporate veil and extract individuals for criminal charges.
I used to work for BOA in their mortgage division. There are more H-1B Indian citizen visa holders working there than you can swing a dead cat at. And if you accidently let go of the cat you are likely to hit a Pakistani. Seriously. They are all geniuses. lol lol lol
I do believe every major financial institution in America has been fined for Money Laundering, mostly for the drug cartels. At least nobody ever goes to jail.
The latest action is the third-largest penalty ever issued by the Treasury Department, behind a roughly $4 billion settlement in 2023 with Binance, the world’s largest cryptocurrency exchange, and an approximately $3 billion settlement with Canada-based TD Bank the following year.
Including universities.
https://www.fincen.gov/news/news-releases/fincen-assesses-12-billion-penalty-against-bank-america
y national security risks, including Chinese money laundering networks and illicit finance along the southwest border.
.....
apparent violations of numerous sanctions programs, including on Iran, Russia, narcotics, and global terrorism.
Couldn’t happen to a better bank.
NGOs launder gov’t grants back to the ‘Rats [and the GOPee].
“In a statement, Treasury said its Financial Crimes Enforcement Network assessed the $1.2 billion penalty for Bank of America’s “failure to mitigate and report priority national security risks, including Chinese Money Laundering Networks and illicit finance along the southwest border.’’”
But what does that mean? HOW are they laundering through China? Isn’t that a felony? Why isn’t someone going to jail? What does it mean illicit finance along the southwest border? Here we are fighting illegals and what is this they’re doing?
And ‘illicit finance along the southwest border.’ comes off sounding like Bank of America is behind the abduction and disappearance of Nancy Guthrie. What a word fog. Opaque.
BoA violates the rights of gun and other politically hates group while violating the laws protecting the US from foreign interests. They should be put out of business!
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