Treasury Sec. Scott Bessent just slapped $1.21 Billion in penalties on Bank Of America

BESSENT FAFO

Bank of America reportedly ADMITTED it willfully broke federal anti-money laundering law.

Treasury says the bank failed to report more than $5 BILLION in suspicious transactions.

More than $1 billion of that was tied to national security risks, including Chinese money-laundering networks and cartel-linked activity along the southwest border

Treasury says the bank put its revenue ahead of compliance and ignored red flags tied to possible narcotics money

BESSENT: "Today's actions send a clear message that even the biggest financial institutions are not above the law."

They are not being let off the hook!

BESSENT JUST LAID THE HAMMER

???? BREAKING: In a massive move, Treasury Sec. Scott Bessent just slapped $1.21 BILLION in penalties on BANK OF AMERICA, which facilitated suspicious transactions involving CHINA and other nations The bank racked up 475 apparent sanctions violations involving Iran, Russia, narcotics, and terrorism! BESSENT FAFO ???? Bank of America reportedly ADMITTED it willfully broke federal anti-money laundering law. Treasury says the bank failed to report more than $5 BILLION in suspicious transactions. More than $1 billion of that was tied to national security risks, including Chinese money-laundering networks and cartel-linked activity along the southwest border Treasury says the bank put its revenue ahead of compliance and ignored red flags tied to possible narcotics money BESSENT: "Today's actions send a clear message that even the biggest financial institutions are not above the law." They are not being let off the hook! BESSENT JUST LAID THE HAMMER

— Eric Daugherty (@EricLDaugh)October 13, 2026