Treasury Slaps Bank of America With $1.21B Penalty for AML Failures
BAC sits 15% above its 52-week low of $46.115.
Summary
The U.S. Treasury Department imposed $1.21 billion in penalties on Bank of America for violating anti-money laundering and sanctions laws. Treasury Secretary Scott Bessent said the bank's failures exposed the U.S. financial system to illicit finance risks. The penalty is material relative to the bank's quarterly earnings, which were $9.1 billion in Q2 2026. Bank of America has not yet commented. The bank reports Q3 earnings on Wednesday, which will likely address the penalty's impact. BofA also settled potential US sanctions violation liability for $11.7 million, according to the Treasury website.
At the time of this announcement, BAC was trading at $53.19 on NYSE in the Finance sector, with a market capitalization of approximately $377.3B. The 52-week trading range was $46.12 to $65.23. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.