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

Original: bank of america

Bank of America has been fined $1.2 billion for violations related to money-laundering rules. CNBC reported the penalty, which ranks among the larger enforcement actions against a major US bank in recent years. The size of the fine and questions about the bank's compliance controls are drawing wide attention.

Why now: A record-scale regulatory fine against one of America's largest banks is major financial news.

Bank of AmericaCNBC

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