The Office of the Comptroller of the Currency didn’t impose a fine in the settlement over sanctions compliance, suspicious activity monitoring and other alleged issues.

Bank of America must overhaul anti-money-laundering protocols and hire third-party consultants, but will not face growth limits, following OCC action for compliance deficiencies.

Bank of America, Corp. BAC received a cease-and-desist order on Monday from the Office of the Comptroller of the Currency (“OCC”), addressing the deficiencies under the Bank Secrecy Act (BSA) and sanctions compliance programs.