Did they actually do money laundering? Is this some kind of vendetta by the Trump administration?
I have no idea what to believe anymore!
Did they actually do money laundering? Is this some kind of vendetta by the Trump administration?
I have no idea what to believe anymore!
“You didn’t give Trump/GOP a cut. Pay the fine now and we’ll take a cut of that”
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
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.
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?
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.
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.
BofA used to have layoffs if they made less than $6 billion every QUARTER.
what was the thing that triggered it?
Money laundering?
How much do you guys think they'll actually end up paying? My bet is 14 million.
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