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Bank of America profit hurt by $1.2-billion fine over anti-money laundering shortcomings
Source: The Globe and Mail
Corporate EarningsBanking & LiquidityRegulation & LegislationLegal & Litigation
Bank of America’s third-quarter profit fell after it set aside US$1.2 billion to cover fines by U.S. regulators. The fines relate to widespread failures to detect potential money laundering and other illicit activity.
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