Bank of America’s Profit Sank 17%, and a Record Penalty Did Most of the Pushing
Bank of America's Q3 profit fell 17% after a record $1.2B money-laundering penalty and weaker trading, but lending income actually grew.
Money Laundering
Bank of America’s $1.2 Billion Fine Hit Earnings Week, and Regulators Say They Warned It First
Treasury hit Bank of America with more than $1.21 billion in money-laundering and sanctions penalties, and the charge landed right on earnings day.
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