Bank of America Fined $0 for AML Lapses, Must Revamp Systems
The Office of the Comptroller of the Currency (OCC) has issued a cease-and-desist order to Bank of America, requiring the bank to revamp its anti-money-laundering protocols and undergo a review of its past actions. The OCC found significant compliance violations, including inadequate internal controls, poor governance, and deficient independent testing. The agency cited failures in … Read more