OCC orders Bank of America to overhaul BSA and sanctions compliance

The second largest bank, by assets, in the United States is to tackle wide-ranging "unsafe or unsound" practices in its Bank Secrecy Act (BSA) and sanctions compliance programs under a consent order signed with the US Office of the Comptroller of the Currency (OCC) on 27 November.

The second largest bank, by assets, in the United States is to tackle wide-ranging "unsafe or unsound" practices in its Bank Secrecy Act (BSA) and sanctions compliance programs under a consent order signed with the US Office of the Comptroller of the Currency (OCC) on 27 November [2024]. [1]