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BofA Sheds $30 Billion in Value as Years of Lapses Come to Light
Source: Bloomberg
Regulation & LegislationBanking & Liquidity
After regulators pushed Bank of America to adjust a compliance system to flag more suspicious transactions, the bank found it had missed thousands of payments representing $4 billion in activity. The article reports a significant compliance-control gap but gives no information on financial losses, penalties, or broader effects.
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