Elizabeth Warren calls for DOJ to investigate Bank of America over money laundering violations

Massachusetts Democratic Sen. Elizabeth Warren asked the Justice Department on Thursday to open an investigation into Bank of America over allegations that it violated anti-money laundering laws.

Warren's letter comes after the Treasury Department fined Bank of America $1.2 billion earlier this month for allegedly failing to report and mitigate notable national security risks.

The senator claimed in the letter to Attorney General Todd Blanche that Treasury's fine was a "slap on the wrist," despite it being the third-largest fine in department history, according to The Hill.

“I ask the Department of Justice to conduct a full criminal investigation and, if the facts warrant, prosecute the bank and its executives for their failures to follow the law,” Warren, the top Democrat on the Senate Banking Committee, wrote in the letter.

Warren said the violations by Bank of America allowed “illicit actors to move billions through the financial system," and asked Blanche to clarify whether the department has conducted a criminal probe of Bank of America and, if not, whether it plans to, by Nov. 12. 

The Justice Department confirmed to The Hill that Blanche has received the letter but did not confirm whether an investigation has been opened or whether one was conducted.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.