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Bank of America
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Federal court orders Bank of America to pay FDIC $540m
The remedy is a quarter of what the agency had previously sought.
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Stablecoin’s moment: The GENIUS Act and growing interest by banks, fintechs
Senate Banking Committee votes 18-6 to advance bill proposing clear regulatory framework for payment stablecoins.
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BofA settles with OCC over AML, sanctions compliance concerns
The consent order was based on alleged BSA/AML violations, unsafe practices concerning those programs, and a failure to timely report suspicious activity and rectify CDD shortcomings identified earlier.
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BofA fined $150m for consumer abuses, including phone accounts, bogus fees
Bank of America, the second-largest US bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers, regulators allege.
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Bank of America praises CBDCs but experts remain divided
In a research report this week picked up by Coindesk, the Bank of America called CBDCs and stablecoins “the natural evolution of money and payments”.