THE BRIEFING
BANK OF AMERICA: US $ 1.2BN FINE TO IMPACT QUARTERLY EARNINGS
US regulators handed Bank of America a US $ 1.2bn fine – the US Treasury’ s third-largest ever – for failing to report more than US $ 5bn in suspicious transactions, including links to money laundering and violations of sanctions involving Russia and Iran.
The fine includes a US $ 750m Office of the Comptroller of the Currency civil penalty and a US $ 11.6m fine from the Office of Foreign Assets Control for compliance failures in transaction monitoring.
US Treasury Secretary Scott Bessent says that such failures expose the US financial system to finance and national security risks.
In addition to paying the fine, Bank of America must hire an independent monitor to audit previous transactions. Following the announcement, Bank of America shares fell 2.7 % in after-hours trading.
14 November 2026
US $ 5bn
The total value of suspicious transactions Bank of America failed to report on
US $ 205
How much PTC will pay per share for the acquisition