BANK OF AMERICA FINED $1.2 BILLION OVER AML

The US Treasury's FinCEN hit Bank of America with a $1.2 billion penalty on October 13 for failing to report suspicious transactions and sanctions risks, landing one day before the bank's earnings release. The Office of the Comptroller of the Currency piled on a separate $750 million fine, the largest in that regulator's history. Shares of $BAC were already down roughly 14% over the prior month, making it the worst-performing big bank heading into the charge.