OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance — 2026-10-13

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $750 million civil money penalty against Bank of America, N.A. (bank), for violations of the Bank Secrecy Act and its implementing regulations, including 12 CFR 21.21 and 12 CFR 21.11. This amount is the largest in OCC history. The bank is also subject to a December 2024 cease-and-desist order (2024 Order), which requires the bank to address its deficient Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program. “Bank of America, N.A., is the second largest bank in the U.S. and the sixth largest in the world. Every year, it processes hundreds of trillions of dollars in transactions across the globe. It has a high, and increasing, risk profile for money laundering, terrorist financing and other illicit activities. Almost two years ago, the bank signed an order with the OCC and committed to fixing its longstanding BSA deficiencies.