The U.S. Treasury Department has once again reshaped the global financial landscape. This time, the blow landed on Bank of America, the country’s second-largest bank, which agreed to pay $1.21 billion to settle a series of cases involving deficiencies in its anti-money laundering programs and violations of international sanctions. The amount makes it the third-largest penalty in the agency’s history, behind only the $4 billion Binance paid in 2023 and the $3 billion TD Bank paid in 2024.