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Finance

Bank of America fined $1.2 billion and reports revenue drop

Outlets agree that Bank of America received a large penalty and faced financial drops. They differ on the exact fine amount.

a large building with columns and a flag on the corner
Illustrative photo · Joshua Woroniecki / Unsplash

At a glance

  • Bank of America received a penalty of over $1 billion from regulators.123
  • The financial institution reported a drop in its revenue or earnings.123

Bank of America faced a substantial regulatory penalty from the government.123

The institution also experienced a drop in its financial performance metrics.123

Where sources agree

  • Bank of America faces a government penalty3 of 3
  • Financial performance or stock dropped3 of 3

Where sources differ

What is the exact amount of the Treasury fine?

$1.2 billion12

$1.21bn3

We show both readings and don't pick a side.

Who covered this

2 National1 International

Sources

  1. 1CNBCBank of America shares drop 8% after third-quarter revenue miss and regulatory penalty ↗
  2. 2MarketWatchBank of America adds a profit miss to the misery of a $1.2 billion government fine ↗
  3. 3The GuardianBank of America fined $1.2bn for money laundering failures ↗

Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.

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