Bank of America fined $1.21 billion for missing signs of dirty money

Bank of America must pay $1.21 billion for missing warning signs of possible dirty money, the Treasury Department said Oct. 14, its third-biggest fine. That includes a record $750 million fine from the OCC, which oversees national banks, tied to a 2024 order. The bank said it will take a $1.2 billion loss in third-quarter earnings.