WASHINGTON, July 24 Bank of America Corp's
banking unit agreed to pay $16.6 million to resolve
allegations that it processed transactions for drug traffickers
who are subject to U.S. sanctions, the U.S. Treasury Department
said on Thursday.
The bank processed several hundred transactions for
designated narcotics traffickers between 2005 and 2009, and
failed to file timely reports on about five such accounts, the
department's Office of Foreign Assets Control said.
(Reporting by Aruna Viswanatha; Editing by Susan Heavey)