Still not enough for the damage it has caused.
Law360, New York (July 24, 2014, 11:59 AM ET) — Bank of America Corp. agreed to a more than $16.5 million settlement with the U.S. Department of the Treasury’s sanctions enforcement unit over allegations that the bank processed around 200 transactions for known drug traffickers subject to U.S. sanctions, the Treasury said Thursday.
The Office of Foreign Asset Control alleges that between September 2005 and March 2009, Bank of America NA processed 208 transactions totaling around $91,000 on behalf of 10 individuals on the agency’s list of specially designated nationals and blocked persons, or SDN list….
Source: Law 360
Update: Here is the settlement agreement. Click here.