Bank of America fined $1.2 billion over money-laundering violations
The action by the Treasury Department was announced less than a day before Bank of America reports quarterly earnings.
CNBC reports that the action by the Treasury Department was announced less than a day before Bank of America reports quarterly earnings.
This business story centres on the United States. Names and organisations mentioned in the coverage include Bank of America and Treasury Department.
Why it matters
Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- United States · Americas
- Reported by
- CNBC
- First reported
- Key names
- Bank of America, Treasury Department
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at CNBCSpotted an error? Request a correction · How this summary was produced
Related Stories
Bears DE Sweat suspended two games for violating NFL's PED policy
The NFL has issued a two-game suspension to Bears defensive end Montez Sweat for violating the league's policy on performance-enhancing substances.
Celtics to extend guard Pritchard on two-year, $44.2M deal
Celtics guard Payton Pritchard has agreed to a two-year, $44.2 million extension with a mutual option for the 2029-30 season.
Dream's Gray has minor procedure on hand, day-to-day ahead of Finals opener
Allisha Gray, who has missed the Dream's past two playoff games because of a left hand injury, is still day-to-day heading into the WNBA Finals…
The rookies to target in drafts this season
André Snellings looks at the rookie class and highlights which players to target in fantasy drafts this season.
Don't let inflation bite — how to hedge with TIPS, commodities and infrastructure funds
TIPS are looking attractive but they aren't the only way to get inflation protection.
Judge says Musk engaged in intimidation of ex-FEMA CFO Mary Comans, clears her name
Ex-FEMA CFO Mary Comans' name was cleared by a federal judge after Elon Musk and other government officials falsely accused her of criminal actions…
Licube wants to be the fuel provider to the fusion power industry
Fusion power plants will need a lot of lithium, and Licube is preparing to be a key supplier.
We're upgrading our rating on Wells Fargo as the stock's pullback offers a nice entry point
Wells Fargo's third-quarter results were not perfect, but CEO Charlie Scharf's turnaround should bear more fruit ahead.