Bank of America on Tuesday was ordered to pay $1.2 billion to the U.S. Treasury Department after the agency said the company violated anti-money laundering and sanctions laws. The penalty is the third-largest ever in Treasury history, the agency said. As part of that total, the bank was ordered to pay $750 million to the Office of the Comptroller of the Currency, the largest-ever fine levied by the OCC. “Today’s actions send a clear message that even the biggest financial institution are not above the law,” Treasury Secretary Scott Bessent said in a statement. As the second-largest bank in the…
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