Jonathan Gould

“Despite its obligation to the American people as a national-chartered, global systemically important bank, the bank's BSA/AML compliance program continues to reflect widespread breakdowns in internal controls, which threatens U.S. national and economic security,”

Jonathan Gould · said 2026-10-13 · reported 2026-10-13

The OCC announced a $750 million civil money penalty against Bank of America for Bank Secrecy Act and anti-money-laundering violations.

“The OCC expects all banks to have an effective BSA/AML compliance program. Those that do not can expect swift and significant action from the OCC.”

Jonathan Gould · said 2026-10-13 · reported 2026-10-13

Gould warned that banks without effective BSA/AML compliance programs can expect swift and significant action from the OCC.

“The bank's poor response to its BSA deficiencies is unacceptable. The second largest bank's egregious and continued BSA violations warrant the OCC imposing its largest [civil money penalty] ever assessed against a bank,”

Jonathan Gould · said 2026-10-13 · reported 2026-10-13

The OCC levied its largest-ever civil money penalty against Bank of America for continued BSA violations.