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Treasury fines Bank of America $1.2 billion for money-laundering, sanctions failures

Bank of America responds, cites remediation spending

3 Yesterday 4:30 PM · 15h ago · 7 articles · 8 posts · 5 sources · development 3 of 5

A Bank of America spokesperson said the bank has invested billions in compliance technology and is working with regulators, and disclosed the fine will cut third-quarter net income by about 17 cents per share.

Bank of America responds, cites remediation spending
x.com

“We have invested billions of dollars in technology and dedicated thousands of employees to combat financial crime, and our team is far along with and committed to completing the work required to address the issues raised by our regulators.”

Bank of America spokesperson

Scott BessentScott Bessent U.S. Treasury SecretaryBank of America Penalized bankFinCEN Treasury's Financial Crimes Enforcement NetworkOffice of the Comptroller of the Currency (OCC) Bank regulatorOffice of Foreign Assets Control (OFAC) Sanctions enforcement agency

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1–4Bank of America responds, cites…5Outlets note this is the third-largest…
8 AM4 PMtodaynow · 7:36 AM ET

Reported in the same hours no headline names this development itself — these 1 claim were published in its stretch

  1. 1 outlet BofA fined $1.21B over AML

    first by Banking Dive, 15h ago

What people said 3 voices · best of 4 · verbatim

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