Bank of America says it is remediating compliance issues
4 Oct 13 5:40 PM · 1d ago · 28 articles · 1 video · 21 posts · 5 comments · 8 sources · development 4 of 6
Bank of America issued a statement saying it is working with regulators and has invested heavily in technology and staff to address the deficiencies cited in the fine.
“We have invested billions of dollars in technology and dedicated thousands of employees to combat financial crime, and our team is far along with and committed to completing the work required to address the issues raised by our regulators.”
Bank of America spokesperson
Scott Bessent U.S. Treasury SecretaryBank of America Fined institution, second-largest U.S. bankBernard Mensah President of International, Bank of AmericaAlastair Borthwick CFO, Bank of AmericaFinCEN / OCC / OFAC U.S. regulators (Treasury's Financial Crimes Enforcement Network, Office of the Comptroller of the Currency, Office of Foreign Assets Control)
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What was reported 1 claim about this development
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first by Barron's Online, 1d ago · also Daily Wire
1 more headline
- Major U.S. Bank Hit With $1.21 Billion In Penalties After Ignoring Red Flags Daily Wire · 1d ago
On air 1 segment · click to watch, arrow keys to move
What people said 12 voices · verbatim
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Bank of America was fined more than $1.21 billion for money laundering and sanctions violations by US regulators
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🇺🇸 Treasury hit Bank of America with MORE THAN $1.21B in penalties for failing to stop money laundering FinCEN, the main anti-money-laundering unit, assessed $1.2B, the OCC added a record $750M credited toward the total, and OFAC settled for $11.6M over sanctions violations
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Who neglected to pay tribute to the king? https:// apnews.com/article/treasury-ba nk-of-america-money-laundering-29013b2c8f08a3a8d579a96721ed1aa4 # money # law # BofA
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Thought I read that the practice became illegal a bunch of years ago. Once I called to complain about my balance when they clearly rearranged my purchases to cause an overdraft. The rep initially was being a stickler about it until I called it out and he immediately refunded me my money. I may be totally off base but that's my story and I'm…
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Bank of America ordered to pay a historic $1.2 billion to Treasury Department over alleged violations of anti-money laundering and sanctions laws.
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Watch Bank of America Fined More Than $1.2 Billion for Money-Laundering - Bloomberg https://www. bloomberg.com/news/videos/2026 -10-13/bofa-fined-more-than-1-2-billion-for-money-laundering-video?utm_source=flipboard&utm_medium=activitypub Posted into Bloomberg Television @ bloomberg-television-bloomberg
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Work in market infrastructure, 99% of the time this is the bank failing to detect money laundering, as opposed to being actively involved in it. No excuse for not picking it up with compliance and controls, for which banks are held responsible.
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I wish there were a way to know if these were real violations
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# BBC # News Bank of America hit with $1.2bn fine for money laundering failings
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TD Bank got hit with money laundering fines and restrictions on its US business. The stock is up 100% since then and profits are rolling in. None of this shit matters.
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“It’s clear that these poor CEOs aren’t making enough money leading them to crime. We should cut their taxes and give them billions in tax dollars”
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Not sure it was ever legal. Just a matter of enforcement. US Bank got hit with a class action for it iirc
All 6 developments of Bank of America fined $1.2bn for money-laundering and… →
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