Bank of America reports Q3 profit plunge after $1.2 billion Treasury fine

Bank of America reports Q3 profit plunge after $1.2 billion Treasury fine

Business

Bank of America said its third-quarter profit fell 17% after a $1. 2 billion penalty imposed by the U. S. Treasury.

The Treasury Department announced the fine for longstanding anti-money-laundering and sanctions compliance failures, noting the bank failed to report more than $5 billion in suspicious transactions, including activity tied to Chinese money-laundering networks. The penalty also includes an $11. 6 million settlement with the Office of Foreign Assets Control and will be reflected in the bank’s upcoming earnings report.

Actors

Bank of America U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) Office of the Comptroller of the Currency (OCC) Office of Foreign Assets Control (OFAC) Jonathan V. Gould

Locations

Washington, D.C., United States Charlotte, North Carolina, United States Southwest border, United States

Articles

October 14, 2026
4 total
U.S. Treasury fines Bank of America $1.2 billion for anti-money-laundering and sanctions breaches
U.S. Treasury fines Bank of America $1.2 billion for anti-money-laundering and sanctions breaches

PBS • 14 Oct 15:07

The Treasury Department imposed a $1.2 billion penalty on Bank of America, citing failures to meet anti-money-laundering and sanctions obligations, including an $11.6 million settlement with the Office of Foreign Assets Control.

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Bank of America shares slide over 6% as $1.2 billion fine depresses Q3 earnings
Bank of America shares slide over 6% as $1.2 billion fine depresses Q3 earnings

Yahoo Finance • 14 Oct 13:03

Bank of America reported a 17% drop in third-quarter profit, citing a $1.2 billion regulatory penalty and weaker investment-banking revenue.

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Bank of America hit with $1.21 billion anti-money-laundering fine
Bank of America hit with $1.21 billion anti-money-laundering fine

The Guardian • 14 Oct 11:54

U.S. regulators imposed a $1.21 billion penalty on Bank of America for failing to report more than $5 billion in suspicious transactions, a charge that will be reflected in its upcoming third-quarter results.

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Bank of America hit with $1.2 billion anti-money-laundering fine
Bank of America hit with $1.2 billion anti-money-laundering fine

BBC • 14 Oct 02:05

U.S. Treasury announced a $1.2 billion penalty for Bank of America after the bank failed to report more than $5 billion in suspicious transactions, including activity linked to Chinese money-laundering networks.

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October 13, 2026
3 total
Bank of America fined $1.2 billion for anti-money-laundering and sanctions breaches
Bank of America fined $1.2 billion for anti-money-laundering and sanctions breaches

New York Post • 13 Oct 22:07

The U.S. Treasury imposed a $1.2 billion penalty on Bank of America for alleged violations of anti-money-laundering and sanctions regulations, alongside an $11.6 million settlement with the Office of Foreign Assets Control.

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Treasury imposes $1.2 billion penalty on Bank of America for AML and sanctions violations
Treasury imposes $1.2 billion penalty on Bank of America for AML and sanctions violations

CNN • 13 Oct 20:32

The U.S. Treasury Department fined Bank of America more than $1.2 billion, citing failures to detect and report money-laundering and sanctions risks, including Chinese networks and border-related illicit finance.

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Bank of America to Pay About $1.21 Billion for Anti-Money Laundering and Sanctions Violations
Bank of America to Pay About $1.21 Billion for Anti-Money Laundering and Sanctions Violations

Fox Business • 13 Oct 20:16

The U.S. Treasury announced penalties totaling roughly $1.21 billion against Bank of America for longstanding failures in anti-money-laundering controls and sanctions compliance.

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