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Bank of America hit with $1.2 billion penalty over money laundering allegations
The 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…
Sources (2)· Oct 13, 8:45 PM to Oct 13, 9:03 PM
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