Bank of America Hit With $1.2 Billion FinCEN Penalty, $750 Million of It Credited to OCC Fine, Plus $11.7 Million OFAC Settlement

October 14, 2026

Treasury announced penalties of more than $1.21 billion against Bank of America for anti-money-laundering and sanctions failures. FinCEN imposed a $1.2 billion civil money penalty, the OCC assessed $750 million, and OFAC settled for $11,662,930. Under the FinCEN order, the $750 million paid to the OCC is credited against FinCEN’s penalty, so the bank pays FinCEN $450 million.

Sources

• U.S. Department of the Treasury, “U.S. Treasury Announces Record Enforcement Actions Against Bank of America” (sb0657, Oct. 13, 2026): https://home.treasury.gov/news/press-releases/sb0657
• FinCEN, Consent Order Imposing Civil Money Penalty, In the Matter of Bank of America, N.A., No. 2026-03: https://www.fincen.gov/system/files/2026-10/BoA-Consent-Order-Execution-Final.pdf
• OFAC, Enforcement Release, “Bank of America, N.A. Settles with OFAC for $11,662,930…” (Oct. 13, 2026): https://ofac.treasury.gov/media/937231/download?inline