# Bank of America (BAC): $1.2B Treasury penalty over anti-money-laundering failures

> Treasury hit Bank of America with about $1.21B in AML and sanctions penalties, and the bank admitted it willfully violated the Bank Secrecy Act. It…

- URL: https://centiview.com/post/bank-of-america-bac-1-2b-treasury-penalty-over-anti-money-laundering-failures
- Published: 2026-10-14T00:15:00.000Z
- Sectors: Financials
- Region: US
- Ticker: BAC
- Sentiment (opinion, not a recommendation): bearish
- Publisher: Centiview (Persie Ltd, London)
- General information only, not financial advice

Treasury hit Bank of America with about $1.21B in AML and sanctions penalties, and the bank admitted it willfully violated the Bank Secrecy Act. It expects a ~$1.2B non-deductible Q3 charge, about 17c a share. Earnings land today.

> **Why it matters** The charge is not tax-deductible and lands in Q3 results due Oct 14. Regulators also said the bank did not make enough progress after a December 2024 cease-and-desist order, so compliance remediation stays in focus.

> **What we verified** FinCEN assessed $1.2B, with the OCC's $750M penalty credited against it, and OFAC settled for about $11.7M over 475 apparent sanctions violations. FinCEN said BofA failed to report more than $5B of suspicious activity on time. Bank of America said the charge cuts Q3 net income by about 17 cents per share.

### Sources
- [OCC Imposes $750 Million Assessment Against Bank of America (OCC)](https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html)
- [Bank of America fined $1.2 billion over money-laundering violations (CNBC)](https://www.cnbc.com/2026/10/13/bank-of-america-treasury-money-laundering.html)
- [Bank of America hit with $1.2B penalty over money laundering failures (Yahoo Finance)](https://finance.yahoo.com/markets/article/bank-of-america-hit-with-12-billion-penalty-over-money-laundering-failures-201623796.html)