Update 1 van 1NieuwsteDag 1
Bank of America Put Revenue First. Penalties Now Top $1.21 Billion
The bank’s own tests exposed missed warning signs. Its admission and enforcement orders document years of delayed reporting—and leave effective repairs still to be demonstrated.
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Wat we eerst wisten
- The net $450 million FinCEN payment is due within ten calendar days after FinCEN signs, excluding the signing day.
Toen nog open
- The available signature-date lines are blank. October 13 is the announcement date, not a verified signature date; neither a calendar payment deadline nor payment completion is established.
Waar we op zouden letten
- Look for consultant engagement and independent findings that the repaired controls detect suspicious activity promptly and produce useful reports.