The U.S. Treasury said it is imposing more than $1.2 billion in penalties on Bank of America for alleged anti-money-laundering and sanctions violations. The penalty ranks as the third-largest in the department's history.
Updates on this story
US major bank: Fine of over 1.2 billion dollars for Bank of America.
Bank of America Pays $1.8 Billion Fine for Lax Money-Laundering Oversight.
Bank of America to Pay $1.21 Billion to Settle Violations of Money Laundering, Sanctions laws.confirmed
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