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Bank of America Fined $1.21 Billion for Compliance Failures

By Drooid · Oct 16, 2026, 2:32 AM UTC · How we work

Summary

Bank of America Fined

U.S. Bank of America was fined $1.21 billion for money-laundering and sanctions compliance failures.
The penalty includes a $750 million OCC fine and additional OFAC sanctions penalties.
Regulators said the bank failed to report over $5 billion in suspicious activity, including $1 billion flagged as national-security risk.
The fines erased about $22 billion from the bank’s market value.

Summary

Bank of America Performance

Bank of America ranked fourth in investment-banking fees for 2025-26 and led AI issuance with $818 billion, 59% share.
Morningstar cut Bank of America’s fair-value estimate to $62 per share from $66.
Adjusted Q3 earnings per share fell to $1.08, missing the $1.21 forecast.
Senior investment-banking executives Amy Lissauer, Mike Joo and Ed Liu left the firm in August.

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Bank of America Fined

U.S. Bank of America was fined $1.21 billion for money-laundering and sanctions compliance failures.
The penalty includes a $750 million OCC fine and additional OFAC sanctions penalties.
Regulators said the bank failed to report over $5 billion in suspicious activity, including $1 billion flagged as national-security risk.
The fines erased about $22 billion from the bank’s market value.

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