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(Adds details and context, Treasury statement in paragraph 3, BofA statement in paragraph 4, adds bullet points) Treasury says bank failed to report more than $5 billion in suspicious activity OCC levies record $750 million civil penalty tied to 2024 cease-and-desist order BofA says third-quarter results will include a
The US government fined Bank of America $1.21 billion for widespread failures to police potential money laundering and other illicit activity, according to the report.
The Financial Times reports that Bank of America was fined $1.2 billion over money laundering failures.