US fines Bank of America $1.2bn for money laundering, sanctions violations
The second-largest US bank faces record penalties for failing to comply with money laundering and sanctions laws.
![A man walks in front of an electronic quotation board displaying the Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo [File: Kazuhiro Nogi/AFP]](/wp-content/uploads/2026/06/AFP__20260615__B7387PA__v1__MidRes__JapanEconomyStocks-1781492156.jpg?resize=770%2C513&quality=80)
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US imposes sanctions on Turkish bank, prompting legal threat
US sanctions Turkish bank over alleged IRGC ties, accusing it of facilitating millions in transactions for Iran.
Iran economy could collapse within months, US Treasury’s Bessent warns
Treasury Secretary Scott Bessent weighs in on the US’s economic pressure campaign at a meeting of G20 finance ministers.
EXPLAINER
Who are the economic winners and losers of the US-Israel war on Iran?
Airlines and automakers have taken a hit, while banks and energy firms have raked in big profits.
US Fed chair warns inflation progress insufficient, hints at rate hikes
Kevin Warsh in speech underscores Fed’s commitment to tackling inflation, with rate hikes possibly on horizon.
From: NewsFeed
Syria’s president makes first Visa payment after sanctions removal
A video shows Syria’s president using a Visa card, one day after the US removed the country from ‘terrorism’ list.
Published On 27 Aug 2026
Lebanon ‘files new lawsuit against’ ex-central bank chief Riad Salameh
Reports citing judicial sources say former commercial banker also indicted over alleged financial crimes.
Senate Democrat’s report says major banks ‘looked the other way’ on Epstein
The report accuses banks of failing to meet their legal requirements to flag suspicious activity and calls for a probe.
Capital One cites anti-money laundering concerns in Trump Organization case
Capital One says Trump Organization account closures in 2021 followed review by anti-money laundering team.
US Fed holds interest rates steady, citing ‘elevated’ inflation
Elevated inflation partly reflects supply shocks that have increased prices, including of energy, the Fed said.
EXPLAINER
Why have half a million Russians gone bankrupt amid Ukraine war?
European intelligence report warns of strain on Russia’s banks, but experts say a full-blown crisis is unlikely
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