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Bank of America hit with $1.2B fine for money laundering, sanctions violations

The fines on America’s second-biggest bank amount to the third-largest in the department’s history.

Sources (1)· Oct 13, 8:47 PM

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Bank of America hit with $1.2 billion penalty over money laundering allegationsThe Treasury Department on Tuesday announced more than $1.2 billion in penalties against Bank of America for years of failures to report suspicious transactions and address shortcomings in its anti-money-laundering program. Why it matters: The action includes the third-largest penalty in Treasury history. What they're saying: "Today's actions send a…
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