Bank of America

Corporate brand

A San Francisco banking institution founded as the Bank of Italy that became one of the largest commercial banks in the United States before its 1998 combination with NationsBank. The principal U.S. national banking subsidiary operating under the Bank of America brand.

Last updated October 29, 2026

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Overview

Bank of America (1904–1998) was the historical American banking institution that began as the Bank of Italy in San Francisco and later gave its name to the modern Bank of America corporation. Amadeo Pietro Giannini founded the bank on October 17, 1904, to serve customers who were often underserved by established financial institutions, particularly working-class residents and Italian Americans in San Francisco's North Beach neighborhood. From its origins, the bank emphasized accessible branch banking and lending to small businesses and households rather than focusing exclusively on established commercial customers. The institution survived the 1906 San Francisco earthquake and fire. Giannini reportedly moved the bank's assets to safety in San Mateo using a horse-drawn cart, enabling the bank to resume operations and extend credit for reconstruction. This response helped establish its reputation as a practical community lender. The bank expanded beyond its original San Francisco location in 1909, opening branches in other California cities, beginning with San Jose. By 1918, it had developed what was described as the first statewide branch-banking system in California, giving it a scale and geographic reach unusual for the period. A major structural turning point came in 1928, when the Bank of Italy merged with the smaller Bank of America, Los Angeles. In 1930, Giannini adopted the Bank of America name for the enlarged institution. The new name reflected an ambition to build a broad regional banking organization while retaining the operating culture and charter lineage associated with Giannini's original bank. Under his leadership, the institution continued to expand its branch network and customer base. Giannini remained an important figure in the bank's development until his death in 1949. By 1945, the bank had grown to 493 California branches and approximately $5 billion in assets, making it the world's largest commercial bank according to the historical account associated with the subject. Its growth model combined branch expansion, consumer and small-business lending, and consolidation with other banking institutions. The Bank of Italy building at Clay and Montgomery Streets in San Francisco became a lasting architectural and historical marker of the institution's early history and was later recognized as a National Historic Landmark. The historical Bank of America ended as a distinct corporate entity through its 1998 merger with NationsBank of Charlotte, North Carolina. NationsBank was the nominal surviving corporation, but the combined institution adopted the Bank of America name and operated under the original Bank of Italy charter lineage. The resulting organization is the predecessor of the modern Bank of America, but it should not be confused with the present-day corporation when describing the 1904–1998 historical subject. The modern institution subsequently expanded through further combinations, including its 2004 merger with FleetBoston Financial. The bank's legacy extends beyond corporate history. Giannini's branch-banking and inclusive-lending practices influenced the development of mass-market American banking. The institution also entered popular culture indirectly: Giannini and the Bank of Italy have been identified as inspirations for the banking themes in Frank Capra's 1932 film American Madness. The historical bank therefore occupies an important place in the evolution of California banking, commercial branch networks, and the corporate lineage that ultimately led to today's Bank of America. Bank of America, National Association, commonly written as Bank of America, N.A. or BANA, is a national banking association and a principal client-facing banking subsidiary of Bank of America Corporation. It is not the publicly traded parent company: Bank of America Corporation is the listed financial-services holding company, while BANA is an unlisted legal banking entity supervised under the U.S. national-bank framework and insured by the Federal Deposit Insurance Corporation. BANA provides much of the banking infrastructure associated with the Bank of America name in the United States. Its activities include consumer deposit accounts, checking and savings products, residential and commercial lending, credit cards, treasury and cash-management services, and other banking products. The broader Bank of America franchise also markets wealth-management and investment services through Merrill and supplies corporate, investment-banking, securities and global-markets services through affiliated entities. Those activities should not automatically be attributed to BANA itself, because the Bank of America group uses several separately organized subsidiaries and affiliates. The institution operates within the nationwide Bank of America distribution and technology platform, including branches, ATMs, online banking and mobile banking. Its consumer proposition emphasizes everyday financial management, digital access, relationship benefits and support for household borrowing and saving. For businesses and institutions, the group presents a broader set of lending, payments, liquidity, treasury and capital-markets capabilities, with BANA serving as one of the core banking entities through which banking relationships and regulated activities are conducted. BANA's current identity reflects the consolidation of a large U.S. banking network assembled by Bank of America Corporation and predecessor institutions. Regulatory records identify numerous bank mergers and transformations involving the entity or its predecessor legal structures. Important integrations connected with the franchise include the absorption of LaSalle Bank, Countrywide Bank, Merrill Lynch banking entities and MBNA-related card operations. These transactions expanded geographic coverage, deposits, credit-card capabilities, mortgage exposure and institutional relationships, while also increasing the complexity of the group's legal-entity structure. The brand has periodically used national advertising to address customer experience, digital banking, relationship rewards and broader financial empowerment. Campaigns such as “Life's Better When We're Connected,” “Get More” for Preferred Rewards and “What would you like the power to do?” moved the emphasis beyond individual products toward relationships, connectivity and customers' goals. The public-facing Bank of America brand therefore represents a house of businesses, while BANA is the core national bank beneath a substantial portion of that proposition. BANA remains active in the United States and is best understood as a regulated operating bank rather than a separately listed brand. Public information about its standalone revenue, management roster and product-level financial performance is more limited than information about Bank of America Corporation. Group executives, corporate disclosures and regulatory materials are consequently the most useful sources for understanding its ownership, structure and strategic context.

History

The institution described in this article was founded in San Francisco on October 17, 1904, as the Bank of Italy by Amadeo Pietro Giannini. Its initial purpose was to provide banking access to working-class residents, especially Italian Americans in the city's North Beach neighborhood. The founding model differed from the more exclusive orientation of many established banks of the era by emphasizing practical services for households, small businesses, and immigrants. The original bank operated from Jackson Square. Its early development was interrupted by the 1906 earthquake and fire, but the institution survived. Giannini moved the bank's assets to his home in San Mateo using a horse-drawn cart and soon resumed banking operations. The bank made loans that supported the rebuilding of San Francisco, reinforcing its role as a community and recovery lender. A permanent Bank of Italy building opened at Clay and Montgomery Streets in 1908; the building later became a National Historic Landmark. Expansion began outside San Francisco in 1909, when the bank opened a branch in San Jose. The branch strategy continued across California, and by 1918 the institution had created what was described as the state's first statewide branch-banking system. This network allowed the bank to gather deposits and distribute credit across multiple communities, providing a foundation for rapid growth. The model also reduced dependence on a single local market and helped the institution serve customers who lacked strong connections to traditional financial centers. In 1928, the Bank of Italy merged with the smaller Bank of America, Los Angeles. Two years later, in 1930, Giannini changed the name of the enlarged organization to Bank of America. The renamed institution continued to expand under his chairmanship. By 1945, it reportedly had 493 branches in California and approximately $5 billion in assets, placing it among the largest commercial banks in the world and, according to the historical account, making it the largest at that time. Giannini remained central to the bank's development until his death in 1949. The institution's history is also connected with the broader development of American mass-market banking. Its branch network and willingness to lend to small businesses and ordinary customers helped make commercial banking more geographically accessible. Giannini's methods have subsequently been discussed as examples of entrepreneurial innovation in banking. The bank's story also influenced popular culture: the institution and its founder are associated with the banking world depicted in Frank Capra's 1932 film American Madness, based on an original screenplay by Robert Riskin. The historical Bank of America concluded its independent corporate existence in 1998, when it merged with NationsBank of Charlotte, North Carolina. Although NationsBank was the nominal surviving company, the merged corporation selected Bank of America as its name and operated under the original Bank of Italy charter. This transaction created the corporate predecessor of the modern Bank of America, while the article subject remains the earlier institution that existed from 1904 through 1998. The successor later expanded further, including through its April 1, 2004, merger with FleetBoston Financial. Bank of America, National Association is a legal banking entity within the Bank of America Corporation group. Its present identity is the result of a long process of consolidation among U.S. banking institutions rather than the creation of a standalone consumer brand with a separately documented founding date. The Bank of America name is used across a collection of related companies, and regulatory, commercial and investment-banking activities may be allocated among different affiliates. The entity's development is closely connected with the expansion of Bank of America Corporation's national banking network. Regulatory merger records list numerous transactions involving Bank of America, N.A. and predecessor or related institutions. The recorded sequence includes bank acquisitions beginning at least in 1960 and continuing through 2020. These records include transactions involving regional Bank of America entities, LaSalle Bank National Association, Countrywide Bank, Merrill Lynch banking companies, MBNA-related operations and FIA Card Services. The 2005 approval of Bank of America Corporation's merger with MBNA Corporation was an important step in the group's consumer-finance and card strategy. MBNA brought a significant credit-card platform and subsidiary banks into the proposed combination. Later integrations broadened the group's geographic footprint and product capabilities. The 2008 LaSalle transaction strengthened the franchise in markets including Illinois, while the Countrywide and Merrill-related combinations added mortgage, deposit, commercial-finance and wealth-related capabilities during the financial crisis and its aftermath. BANA's role should be distinguished from that of the parent corporation. Bank of America Corporation owns and coordinates the group, while BANA is an operating national bank. The group also includes securities, investment-banking, wealth-management and international affiliates. Corporate structure materials identify BANA as a client-facing subsidiary of the holding company and note that the “Bank of America” marketing name covers a broader global banking and global-markets business than the national bank alone. In the consumer market, the entity operates through the Bank of America branch, ATM, web and mobile ecosystem. Its public proposition has evolved from product-specific banking messages toward relationship management, digital convenience and financial empowerment. Earlier advertising highlighted mobile banking, savings tools and products such as Keep the Change. The 2013 “Life's Better When We're Connected” campaign used a family narrative to humanize the institution after a period in which the brand faced substantial reputational pressure. The Preferred Rewards “Get More” campaign later emphasized benefits across a customer's broader relationship. In 2018, the group introduced the “What would you like the power to do?” positioning, supported by stories about customers, communities and partners. Today BANA remains an active U.S. national bank and one of the principal legal entities behind Bank of America's domestic banking presence. Because it is privately held within a listed parent group, standalone financial metrics and a complete entity-specific executive history are not generally presented in the same way as those of Bank of America Corporation. The most reliable understanding of BANA therefore combines official corporate-structure materials, federal regulatory records and descriptions of Bank of America products and campaigns.

2018
Brand repositioning under the power slogan
[6]Bank of America brand positioning campaignengageforgood.com
Bank of America launched a multi-year repositioning built around the question “What would you like the power to do?”
2014
Preferred Rewards campaign
[8]Preferred Rewards campaignglobalbrandsmagazine.com
The “Get More” platform promoted Preferred Rewards as a relationship-wide program spanning everyday banking and investing.
2013
Connections-focused brand campaign
[7]Bank of America connections advertising campaignthefinancialbrand.com
Bank of America introduced a major campaign centered on personal and community connections, including the “Portraits” television spot.
2009
Countrywide and Merrill banking integrations
[5]Bank of America, National Association merger and acquisition recordsbankregreports.com
The merger record lists Countrywide Bank and Merrill Lynch banking entities among the institutions integrated into the Bank of America structure.
2008
LaSalle banking entities enter the organization
[5]Bank of America, National Association merger and acquisition recordsbankregreports.com
Regulatory records list the integration of LaSalle Bank National Association and Michigan National Bank of Detroit.
2005
Federal Reserve approves the MBNA merger
[4]Federal Reserve order approving the Bank of America–MBNA mergerfederalreserve.gov
The Federal Reserve approved Bank of America Corporation's proposed merger with MBNA Corporation and the acquisition of MBNA subsidiary banks.
1998
Combination with NationsBank
[1]Bank of America (1904–1998)en.wikipedia.org
The historical Bank of America merged with NationsBank, which adopted the Bank of America name for the combined organization.
1960
Regulatory acquisition record begins
[5]Bank of America, National Association merger and acquisition recordsbankregreports.com
A Federal Reserve-related merger database records Bank of America, N.A. or its relevant predecessor structure in bank acquisition activity from 1960 onward.
1945
Reaches leading commercial-bank scale
[1]Bank of America (1904–1998)en.wikipedia.org
The bank was reported to have 493 California branches and approximately $5 billion in assets.
1930
Bank of America name adopted
[1]Bank of America (1904–1998)en.wikipedia.org
Giannini renamed the enlarged institution Bank of America.
1928
Merger with Bank of America, Los Angeles
[1]Bank of America (1904–1998)en.wikipedia.org
The Bank of Italy combined with a smaller Los Angeles bank, creating the platform for the later Bank of America identity.
1918
Statewide branch network develops
[1]Bank of America (1904–1998)en.wikipedia.org
The institution had developed what was described as California's first statewide branch-banking system.
1909
First expansion branch
[1]Bank of America (1904–1998)en.wikipedia.org
The bank opened a branch in San Jose, starting its expansion into other California cities.
1906
Earthquake and fire recovery
[1]Bank of America (1904–1998)en.wikipedia.org
The bank preserved its assets during the San Francisco disaster and extended credit for reconstruction.
1904
Bank of Italy is established
[1]Bank of America (1904–1998)en.wikipedia.org
Amadeo Pietro Giannini founded the Bank of Italy in San Francisco to serve working-class residents and Italian American customers.

Products and positioning

A broad-access commercial bank built around branch expansion, community lending, and statewide banking in California. A nationwide, digitally enabled relationship bank serving consumers, small businesses, companies and institutions through the Bank of America group.

Retail banking · 1909
Branch banking
The bank's defining operating product was a broad branch network serving communities across California. Expansion beyond San Francisco began in 1909 and developed into a statewide system by 1918, allowing the institution to collect deposits and provide banking services across multiple local markets.
Commercial banking · 1904
Small-business and community lending
Bank of Italy and its successor emphasized loans to small businesses, households, and customers who were not well served by established financial institutions. This lending orientation was visible after the 1906 disaster, when the bank supported rebuilding in San Francisco.
Retail banking · 1904
Retail deposits and consumer banking
The institution gathered deposits and provided everyday banking services through its expanding California branch network. Its customer focus on working-class residents and immigrant communities formed an important part of its historical identity.
Retail banking
Consumer deposit accounts
Bank of America offers everyday checking, savings, money-market and certificate-of-deposit products through its U.S. banking platform. These accounts are supported by branches, ATMs, online banking and mobile banking. Specific account terms, eligibility and pricing vary by product and customer relationship.
Consumer finance
Credit cards
Credit-card products are a major part of the Bank of America consumer offering, reflecting capabilities expanded through the MBNA and FIA Card Services-related corporate history. The portfolio includes cards with different rewards, cash-back, travel and relationship propositions.
Lending
Home loans and consumer lending
The banking platform provides residential mortgage, refinancing, home-equity and other consumer borrowing services. Mortgage capabilities were shaped in part by the integration of Countrywide-related banking operations, although particular lending activities may be conducted by designated Bank of America affiliates.
Business banking
Business and commercial banking
BANA and related Bank of America businesses serve small businesses, middle-market companies and institutions with deposits, loans, payment services, treasury management and cash-management tools. The exact legal entity providing a product can differ according to customer type and regulatory activity.
Relationship banking
Preferred Rewards
Preferred Rewards is a relationship-based benefits program that connects eligible customers' banking and investing relationships. Public campaign material describes benefits and rewards intended to increase value across multiple products rather than within only one account or service.
Digital banking
Online and mobile banking
Bank of America's digital channels enable customers to review accounts, transfer funds, make payments and manage selected banking services remotely. Advertising has repeatedly presented mobile access as a response to customers' need for convenient, on-the-go financial management.
Wealth management
Merrill investment and wealth services
Merrill-branded investing and wealth-management services are part of the broader Bank of America group. They are included here as a flagship group offering, but many securities and advisory activities are conducted by affiliates rather than by BANA itself.

Controversies

2026
Bank of America agrees to pay $1.21 billion in anti-money laundering penalties
Bank of America acknowledged serious anti-money laundering compliance failures and agreed to pay $1.21 billion in penalties, with shares falling as much as 9% on Wednesday. According to the U.S. Treasury Department, the bank failed to promptly report more than $5 billion in suspicious transactions, over $1 billion of which involved potential national security threats. The penalties were imposed by three Treasury agencies through civil enforcement actions, with no criminal charges against bank executives, and the bank must now undergo an independent review of previously overlooked suspicious transactions. The settlement drew criticism from Binance founder Changpeng Zhao, who questioned the treatment difference between banks and crypto exchanges.
Source
2026
Bank of America discloses hiring 1,000 contractors to patch software flaws exposed by Anthropic's Mythos
Bank of America CEO Brian Moynihan said in an interview after the bank's third-quarter earnings release that the bank added 1,000 third-party contractors in the second quarter of 2026 to support about 3,000 internal staff in patching proprietary and vendor software vulnerabilities exposed by advanced AI models including Anthropic's Mythos. He said software remediation, combined with anti-money laundering compliance, added a "couple hundred million plus" to third-quarter costs, and that the bank expects remediation costs to decline over time.
Source
2026
FinCEN imposes $1.2 billion penalty on Bank of America
FinCEN imposed a US$1.2 billion penalty on Bank of America for anti-money-laundering and sanctions failures, including failures to report suspicious activity on time. The bank admitted the facts and violations set out in the order; the order described the transactions as suspicious and did not establish that every payment involved criminal proceeds.
Source
2021
Bank of America sued over EDD debit-card fraud
A San Francisco real estate agent sued Bank of America and sought class-action status, alleging that the bank failed to implement standard security measures to guard against fraud affecting EDD debit-card holders. The suit concerns fraud affecting holders of EDD debit cards and centers on the bank's alleged failure to adopt standard security measures. The plaintiff sought to represent a class. The event was reported on January 15, 2021.
Source
2021
Bank of America added as defendant in Satterfield family lawsuit
Attorneys representing Gloria Satterfield’s family amended their lawsuit to add Bank of America as a defendant, alleging the bank facilitated Alex Murdaugh’s alleged laundering of money stolen from the family. These are allegations in the lawsuit, not findings established by the article.
Source
2020
Ten banks sued over alleged corporate bond market price coordination
A class action lawsuit was filed in Manhattan federal court against ten banks, including JPMorgan Chase and Bank of America. The complaint alleged that the banks conspired over nearly 14 years to manipulate prices in the $9.6 trillion corporate bond market. These are allegations in the complaint, not a court finding.
Source
2020
Report alleges US financial firms funded Amazon-linked abuses
A report by Amazon Watch and the Association of Brazil's Indigenous Peoples alleged that six US financial firms invested more than US$18 billion over three years in companies involved in abuses in the Amazon, including environmental destruction and indigenous rights violations. The report named BlackRock, Citigroup, JPMorgan Chase, Vanguard, Bank of America and Dimensional Fund Advisors. BlackRock said it engages with companies on ESG risks and takes voting action when needed.
Source
2020
Bank of America codifies its Arctic oil and gas financing policy
Bank of America said it would codify its existing practice of not participating in project finance for oil and gas exploration in the Arctic into policy. The article reports that environmental campaigners had criticized the bank for not previously ruling out financing for drilling in the Arctic refuge.
Source
2020
FINRA fines Bank of America over mutual fund sales fees
FINRA fined Bank of America $7.23 million after the bank failed to waive mutual fund sales fees for certain accounts, resulting in excess charges to more than 13,000 mutual fund customers.
Source

2018What would you like the power to do?
United States
A multi-year brand platform framed Bank of America as a partner in customers' ambitions and in community and environmental initiatives. The launch used television, digital video, mobile, social and print media and included the theme “The Power to Make a Difference.”
Outcome. The campaign accompanied a broader brand and logo refresh intended to express improved customer experience and a more purpose-led position.
Source
2014Get More
United States
Advertising for Preferred Rewards portrayed customers receiving everyday benefits across banking and investing activities. The campaign used television, online video, social media and sports-related placements to reach digitally engaged customers.
Outcome. The campaign sought to grow awareness and participation in Preferred Rewards; the supplied sources do not establish a verified campaign-result figure.
Source
2013Life's Better When We're Connected
United States
The campaign used the “Portraits” commercial and related storytelling to show a family's changing life across generations. The bank appeared as an enabler of connections rather than as the subject of a product demonstration.
Outcome. It represented a significant attempt to refresh and humanize the Bank of America brand after a difficult reputational period.
Source
2010Mobile banking and savings foundations
United States
A national advertising effort promoted mobile banking alongside savings-oriented products and programs, including Keep the Change and selected deposit offerings. The campaign linked digital convenience with building a stronger financial foundation.
Outcome. The available material describes the campaign's intended positioning but does not provide independently verified performance results.
Source

Brand decisions

2009
Integrate Countrywide and Merrill banking entitiesM&A
Background
Bank of America continued consolidating banking and finance operations associated with Countrywide and Merrill Lynch.
Action taken
The merger record lists Countrywide Bank, Merrill Lynch Bank USA and other Merrill-related entities among the integrations.
Aftermath
The group gained additional mortgage, commercial-finance and wealth-related capabilities, while its legal-entity structure became more complex.
Source
2008
Integrate LaSalle banking operationsM&A
Background
The group expanded its U.S. banking network during a period of financial-sector consolidation.
Action taken
Regulatory records list LaSalle Bank National Association and Michigan National Bank of Detroit among institutions integrated into the Bank of America structure.
Aftermath
The integrations broadened the group's regional deposit and branch presence.
Source
2005
Proceed with the MBNA combinationM&A
Background
Bank of America Corporation sought regulatory approval to merge with MBNA Corporation and acquire its subsidiary banks and related businesses.
Action taken
The Federal Reserve approved the merger proposal, subject to the applicable statutory and regulatory framework.
Aftermath
The transaction expanded Bank of America's credit-card and consumer-finance platform and contributed to the later structure of its banking subsidiaries.
Source
1998
Combine with NationsBankM&A
Background
The historical Bank of America and NationsBank of Charlotte entered a corporate combination that ended the former institution's independent existence.
Action taken
NationsBank was the nominal surviving corporation, but the combined bank adopted the Bank of America name and retained the original Bank of Italy charter lineage.
Aftermath
The transaction created the corporate predecessor of the modern Bank of America.
Source
1930
Adopt the Bank of America identityStrategy
Background
Following the 1928 combination with Bank of America, Los Angeles, the enlarged Bank of Italy needed an identity suited to its expanding California footprint.
Action taken
Amadeo Giannini changed the institution's name from Bank of Italy to Bank of America.
Aftermath
The name became the public identity inherited by the successor corporation formed through the 1998 NationsBank combination.
Source

Recent events

2026-10-20
FinCEN imposes $1.2 billion penalty on Bank of America[17]FinCEN imposes $1.2 billion penalty on Bank of Americathestar.com.my
Reported: 2026-10-22
FinCEN imposed a US$1.2 billion penalty on Bank of America for anti-money-laundering and sanctions failures, including failures to report suspicious activity on time. The bank admitted the facts and violations set out in the order; the order described the transactions as suspicious and did not establish that every payment involved criminal proceeds.
2026-10-14
Bank of America discloses hiring 1,000 contractors to patch software flaws exposed by Anthropic's Mythos[16]Bank of America discloses hiring 1,000 contractors to patch software flaws exposed by Anthropic's Mythoscnbc.com
Reported: 2026-10-14
Bank of America CEO Brian Moynihan said on Wednesday, Oct 14, 2026, in an interview after the bank's third-quarter earnings release, that the bank added 1,000 third-party contractors in the second quarter of 2026 to support about 3,000 internal staff in patching proprietary and vendor software vulnerabilities exposed by advanced AI models including Anthropic's Mythos. He said software remediation, combined with anti-money laundering compliance, added a 'couple hundred million plus' to third-quarter costs, and that the bank expects remediation costs to decline over time.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-10-14
Bank of America agrees to pay $1.21 billion in anti-money laundering penalties[11]Bank of America agrees to pay $1.21 billion in anti-money laundering penaltieseconotimes.com
Reported: 2026-10-14
Bank of America acknowledged serious anti-money laundering compliance failures and agreed to pay $1.21 billion in penalties, with shares falling as much as 9% on Wednesday. According to the U.S. Treasury Department, the bank failed to promptly report more than $5 billion in suspicious transactions, over $1 billion of which involved potential national security threats. The penalties were imposed by three Treasury agencies through civil enforcement actions, with no criminal charges against bank executives, and the bank must now undergo an independent review of previously overlooked suspicious transactions. The settlement drew criticism from Binance founder Changpeng Zhao, who questioned the treatment difference between banks and crypto exchanges.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-10-14
Bank of America scheduled to report Q3 2026 earnings on October 14[24]美国银行定于10月14日发布2026年第三季度财报cnbc.com
Reported: 2026-10-11
Bank of America is scheduled to release its third-quarter 2026 results ahead of the US market open on Wednesday, October 14, 2026, with a management call at 8:30 a.m. ET. Analysts polled by LSEG expect single-digit year-on-year earnings and revenue growth.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-10-13
OFAC reaches US$11.7mn settlement with Bank of America over apparent sanctions programme violations[13]Bank of America agrees to pay $1.21 billion in anti-money laundering penaltiesgtreview.com
Reported: 2026-10-13
The US Office of Foreign Assets Control (OFAC) announced a US$11.7mn settlement with Bank of America after nearly 500 alleged violations of sanctions programmes. OFAC said that between 2021 and 2025 Bank of America engaged in 475 apparent violations of sanctions programmes targeting Russia, Belarus, Iran, Burma, Somalia, narcotics, and global terrorism, across transactions totalling nearly US$15mn, and that issues generally occurred because sanctions screening filters had not been updated in time or because of human error in assessing false positives.
2026-10-13
Bank of America fined $1.21 billion over suspicious-activity reporting failures[25]美国银行因可疑交易报告失误被罚款12.1亿美元hindustantimes.com
Reported: 2026-10-13
Federal regulators imposed $1.21 billion in penalties on Bank of America on Tuesday after finding it failed to quickly report more than $5 billion in suspicious transactions. Treasury's Financial Crimes Enforcement Network assessed about $1.2 billion, including a record $750 million penalty from the Office of the Comptroller of the Currency, and the Office of Foreign Assets Control separately settled 475 apparent sanctions violations with the bank for $11.6 million. Regulators found the bank had not fixed the BSA/AML compliance problems it committed to address in a December 2024 cease-and-desist order, and the FinCEN order requires the bank to hire a third party to identify previously unreported suspicious transactions. Bank of America said the penalties will result in a $1.2 billion non-tax-deductible charge in its third-quarter results.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Unconfirmed
U.S. Treasury fines Bank of America $1.2 billion over anti-money laundering and sanctions violations[14]Bank of America agrees to pay $1.21 billion in anti-money laundering penaltiesfox13seattle.com
Reported: 2026-10-13
The U.S. Treasury Department is fining Bank of America $1.2 billion for allegedly violating anti-money laundering and sanctions laws. Treasury said its Financial Crimes Enforcement Network (FinCEN) assessed the $1.2 billion penalty for the bank's failure to mitigate and report priority national security risks, including Chinese money laundering networks and illicit finance along the southwest border; the bank allegedly processed millions of dollars in payments that violated sanctions programs, including programs targeting global terrorism and narcotics. The penalty includes $750 million that will go to the U.S. Office of the Comptroller of the Currency, the largest fine ever imposed by that agency.
2026-10-13
OCC issues US$750mn civil monetary penalty against Bank of America over anti-money laundering control breakdowns[13]Bank of America agrees to pay $1.21 billion in anti-money laundering penaltiesgtreview.com
Reported: 2026-10-13
The US Office of the Comptroller of the Currency (OCC) announced a US$750mn civil monetary penalty against Bank of America, its largest ever, following widespread breakdowns in anti-money laundering controls; the amount is included within the FinCEN penalty and is to be paid to the Treasury. The OCC said that despite a 2024 order requiring the bank to address deficiencies in its anti-money laundering programmes, Bank of America still failed to prioritise compliance.
2026-10-13
Bank of America settles with OFAC for $11.6 million over sanctions program violations[12]Bank of America agrees to pay $1.21 billion in anti-money laundering penaltiesalbawaba.net
Reported: 2026-10-14
As part of the same U.S. Treasury enforcement actions announced on Tuesday, October 13, 2026, Bank of America settled with the Treasury Department's Office of Foreign Assets Control for $11.6 million over apparent violations of numerous sanctions programs, including those concerning Iran, Russia, narcotics, and global terrorism.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-09-29
Alaska Airlines to launch Atmos rewards debit card with Bank of America[26]阿拉斯加航空拟与美国银行联合推出Atmos奖励借记卡cnbc.com
Reported: 2026-09-29
Alaska Airlines said it plans to launch early next year a rewards debit card for its Atmos loyalty program, expanding the carrier's co-branded cards it offers with Bank of America. The airline said the new debit card is aimed at younger and new arrivals in the U.S. and "expands the program's reach beyond traditional credit products."

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