Bank of America Takes $1.2 Billion OCC and FinCEN Hit as…
By Abdelaziz Fathi
Source excerpt · FinanceFeeds
Bank of America reported a $1.2 billion regulatory charge tied to anti-money laundering failures on Wednesday, October 14, pushing third-quarter earnings down to $0.91 per share and sending its stock sharply lower. Even excluding the penalty, the bank missed Wall Street's profit and revenue expectations. The Charlotte-based lender reported net income of $6.9 billion on revenue of $30.0 billion, co…