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Did they actually do money laundering? Is this some kind of vendetta by the Trump administration?
I have no idea what to believe anymore!
This is a signal by the Trump admin that they’re not laundering enough
“You didn’t give Trump/GOP a cut. Pay the fine now and we’ll take a cut of that”
No, no: this is the payola.
Whooptie Do.
That fine represents 1% of last year's gross profit, which was $119.237B.
Source: https://www.macrotrends.net/stocks/charts/BAC/bank-of-america/gross-profit
Crime DOES pay???
They lied about that too???
Ooh, for businesses, not for people.
I thought businesses WERE people.
Ooh, only when it's convenient. What do you call THAT law?
Not making excuses, but gross profit doesn't account for a bunch of other business expenses. Yearly net profit is more like $30B. That makes the fine ~4%.
The profits are still criminally high and the fine is criminally low, but it should be compared to net.
I'm shocked that they are still doing these types of things. I expected the bank's executives would've been able to settle their differences with Treasury officials over a glass of wine and a few million donated to the Don's campaign fund.
This is how he tells them (and everyone watching) they haven't been donating enough.
Dammit. You’re right.
They hardly ever actually pay these fines. They'll make one or two payments, then stop, and nothing happens.
That sounds scary, until you realize it’s pocket change for BofA, and pales in comparison to the money they will make continuing to launder money.
Because until people are in prison for these crimes, nothing will change.
Like all the Panama papers people!
…but nobody goes to jail, it's just the cost of doing business
BofA used to have layoffs if they made less than $6 billion every QUARTER.
what was the thing that triggered it?
Money laundering?
so there is this other article about finding a thing about scamming NK into programmer jobs and Im kinda wondering if this is the laundering that boa did not do dilegence on.
That's wild!
How much do you guys think they'll actually end up paying? My bet is 14 million.
I fucking HATE BoA, good.
this post was submitted on 13 Oct 2026
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