✉news WorldPolitics first seen 1 d ago, last 1 d ago, peak #2
Bank of America fined $1.2 billion over money laundering
Original: U.S. hits Bank of America with $1.2 billion fine, citing money laundering
U.S. authorities have imposed a $1.2 billion fine on Bank of America, citing money laundering violations. The penalty is one of the larger enforcement actions against a major American bank in recent years. The decision is drawing attention to how the country's biggest financial institutions monitor suspicious transactions and comply with anti-money laundering rules.
Why now: The size of the fine against one of America's largest banks makes it a major financial and regulatory story.
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