Bank of America Heads Into Q3 Earnings Carrying a $1.2 Billion Treasury Penalty
Bank of America received a $1.2 billion bill from the US Treasury a day before its earnings report. On Tuesday, the Treasury hit the second-largest US bank with more than $1.21 billion in anti-money-laundering and sanctions penalties. The bank said the charge will cut third-quarter net income by about 17 cents per share. A $1.2 The post Bank of America Heads Into Q3 Earnings Carrying a $1.2 Billion Treasury Penalty appeared first on BeInCrypto.
Key Takeaways
- Bank of America received a $1.2 billion bill from the US Treasury a day before its earnings report.
- On Tuesday, the Treasury hit the second-largest US bank with more than $1.21 billion in anti-money-laundering and sanctions penalties.
- The bank said the charge will cut third-quarter net income by about 17 cents per share.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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