Third largest fine in US treasury’s history, due to failure to report suspicious activity, may affect third-quarter earnings Bank of America (BAC.N), has been fined $1.21bn by US regulators for widespread failures to detect potential money laundering and other illicit activity, a penalty the bank said will hurt third-quarter earnings. The treasury department said the fine, the third-largest in department history, i…
NYTimes – Business Federal regulators said the bank had waved through suspicious transactions without proper care.
NYTimes – Business Federal regulators said the bank had waved through suspicious transactions without proper care.
NYTimes – US Federal agents searched the Washington, D.C. home of Democratic Rep. Ilhan Omar of Minnesota, with sources saying the investigation centers on immigration documents filed by her late father when she was a child. Omar called the search a weaponization of federal law enforcement and said she would not be silenced. Democrats condemned it as a rogue abuse of power three weeks before the midterm election. President Donald Trump said he did not order the search, though he had previously announced a Justice Department investigation into Omar.
NYTimes – US The White House asked U.S. Ambassador to Greece Kimberly Guilfoyle to resign on Tuesday amid allegations of misconduct before and during her tenure in Athens. Reports alleged she sought $100,000 from a Trump supporter to pay personal credit card debt and accepted luxury trips and hotel stays from wealthy Greek businessmen. Guilfoyle denied wrongdoing and vowed to defend herself.
NYTimes – Business A federal judge extended an order blocking the Trump administration from banning CNN, MS NOW and Politico journalists from the White House, allowing access to continue while the outlets sue. U.S. District Judge Timothy Kelly said the administration's revocation of hard passes likely violated the First and Fifth Amendments.
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