BAC press release
RTPR•19/10/2026•15:50 ET
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Key Highlights
- ➤$1.21B-plus penalties imposed on Bank of America for AML and sanctions violations
- ➤FinCEN assessed a $1.2B civil penalty for Bank Secrecy Act violations
- ➤Transaction-monitoring failures missed or delayed reporting of more than $5B in suspicious activity
- ➤OFAC identified 475 apparent sanctions violations between September 2021 and April 2025
- ➤Bank of America admitted material facts and violations in the FinCEN consent order
Philadelphia, Pennsylvania--(Newsfile Corp. - October 19, 2026) - Grabar Law Office is investigating claims on behalf of shareholders of Bank of America Corporation (NYSE: BAC) concerning possible breaches of fiduciary duties by certain current and former officers and directors.
What is This Investigation About? The investigations arises from the Company's alleged longstanding failures to maintain adequate anti-money laundering ("AML") controls, comply with the Bank Secrecy Act ("BSA"), and adhere to federal economic sanctions requirements.
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