GoKawiilBank of America hit with $1.2 billion Treasury fine for financial crime reporting failures
The U.S. Treasury has fined Bank of America more than $1.2 billion for violating anti-money-laundering and sanctions laws, including failures to report financial crime. The penalty ranks as the Treasury's third-largest ever, behind fines levied against Binance and TD Bank. Bank of America's stock fell following the announcement.