Continuing story · 1 report

Treasury's Bank of America enforcement actions

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Where it stands

Bank of America admitted willful Bank Secrecy Act violations after its controls failed to identify and report more than $5 billion in suspicious activity on time. The report says significant corrective work required by an earlier order remained incomplete; the enforcement actions’ required remediation and other compliance measures are not yet reported as resolved.

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Story trackerDay 1

1 report42 outlets74 sources3 videos

  • No dated events yet
  1. Update 1Bank of America Put Revenue First. Penalties Now Top $1.21 Billion

The story so far

  1. Update 1

    Bank of America Put Revenue First. Penalties Now Top $1.21 Billion

    The bank’s own tests exposed missed warning signs. Its admission and enforcement orders document years of delayed reporting—and leave effective repairs still to be demonstrated.

    Still open after this report

    • The available signature-date lines are blank. October 13 is the announcement date, not a verified signature date; neither a calendar payment deadline nor payment completion is established.

History

  1. Opened1 report

Who's involved

Organizations

  • Bank of AmericaAmerican multinational banking and financial services corporation1 report
  • Financial Crimes Enforcement Networkbureau of the United States Department of the Treasury1 report
  • Office of Foreign Assets Controlagency of the United States Department of the Treasury1 report
  • Office of the Comptroller of the CurrencyAmerican federal government organization1 report

Places

  • United StatesUnited States1 report

Every outlet we read on this story

74 sources41 outlets3 videos1 wire copy

Who reported what

24 points1 confirmed by two or more outlets19 from a single outlet0 disputed

What 5 outlets reported about this story, point by point, and who reported each point first.

Points more than one outlet reported

Each column is an outlet, in the order they first reported. Select a mark to read that outlet's wording.

  • Reported it first
  • Reported it
  • Repeated another outlet
  • Did not report it
PointU.S. TreasuryBloomberg TelevisionPBS NewsHourSBS NewsScripps NewsOutlets
Total Bank of America enforcement penaltyIndependently confirmed5
FinCEN assessment and national security risksNot independently confirmed3
Suspicious transactions and reporting failuresNot independently confirmed3
OFAC sanctions violations and settlementNot independently confirmed2
Bank statement on financial-crime complianceNot independently confirmed2

Points only one outlet reported

Only reported by U.S. Treasury

Only reported by Bloomberg Television

Each line is the claim as we recorded it from that outlet's report. Compared as of .