News

Bank of America fined $1.2 billion over money-laundering violations

October 13, 2026 — The U.S. Treasury announced enforcement actions totaling more than $1.21 billion against Bank of America for anti-money-laundering and sanctions violations: a $1.2B FinCEN penalty (failure to mitigate and report national-security risks, including Chinese money-laundering networks and southwest-border illicit finance), a $750M OCC civil money penalty over its BSA/AML compliance program, and an $11.6M OFAC settlement. FinCEN's penalty is the third-largest in Treasury history; the OCC's is the largest in its history. The bank failed to timely report over $5 billion in suspicious transactions.

References: U.S. Treasury press release · AP · CNN · Washington Post

White House orders over $800M in funds rescinded

September 25, 2026 — The White House invoked the Impoundment Control Act to deploy a "pocket rescission" of $810 million in congressionally appropriated funds across HHS, Education, HUD, Justice and other agencies. Senate Appropriations Chair Susan Collins called it a "clear violation" of law, noting the GAO has concluded pocket rescissions are unlawful under the ICA. The White House's own letter reports 11 rescissions totaling $810 million.

References: ABC News · NBC News · CNBC · White House statement

REMEMBER: Rail cars provide passenger services.

The pro se litigators were claiming Adverse Abandonment, which is different from Adverse Possession.

Adverse abandonment is a legal process where a third party seeks to abandon or discontinue rail lines or services over another party's property, even if the owner objects, typically under bankruptcy proceedings.

Definition and Context

Adverse abandonment occurs when a party, often a trustee in bankruptcy, attempts to terminate trackage rights or easements held by a non-debtor over rail lines owned by a debtor. Unlike standard abandonment, where a rail carrier seeks permission to discontinue its own operations, adverse abandonment involves affecting the rights of a third party rather than the carrier's own property or service rights.

Legal Framework

Under the U.S. Bankruptcy Code, Section 1170, bankruptcy courts have authority to approve abandonment of rail lines owned by a debtor. However, courts generally do not have the power to grant adverse abandonments affecting non-debtor rail carriers' rights; such actions are typically under the jurisdiction of the Surface Transportation Board (STB) (Singer). The STB, successor to the Interstate Commerce Commission, regulates rail line abandonments and discontinuances under 49 U.S.C. § 10903, ensuring that public convenience and necessity are considered (eCFR, 49 CFR Part 1152).

For a standard abandonment, a rail carrier must file an application with the STB, providing details such as traffic data, financial considerations, and notice to affected parties, including states and significant shippers. The STB evaluates whether the abandonment or discontinuance would have a serious adverse impact on communities or commerce before granting approval (49 U.S.C. § 10903). In contrast, an adverse abandonment petition allows a third party to request the STB to discontinue service or rights over another carrier's line, even if the line owner objects, but the STB retains ultimate authority to approve or deny the request.

Adverse abandonment is significant in bankruptcy and rail regulation because it balances the interests of non-debtor carriers, shippers, and public convenience. It ensures that third-party rights are not terminated without regulatory oversight, preventing unilateral disruption of rail service and protecting commerce and community interests (eCFR, 49 CFR Part 1152).

References: 49 CFR Part 1152 (Cornell LII) · 49 CFR Part 1152 (eCFR) · 49 CFR § 1152.25 (Cornell LII) · 49 U.S.C. § 10903 (Cornell LII) · 11 U.S.C. § 1170 (Cornell LII)