According to BeInCrypto, Bank of America received a $1.2 billion assessment from the US Treasury the day before its third‑quarter earnings report. The Treasury imposed the charge on Tuesday, targeting the nation’s second‑largest bank with penalties exceeding $1.21 billion for anti‑money‑laundering and sanctions violations. Bank of America indicated that the penalty will reduce its Q3 net income by roughly 17 cents per share.
