Bank of America says laundering sanctions may include public orders

Bank of America (BAC) disclosed in its quarterly filing: “The Corporation has been engaged with several of its federal regulators in relation to certain aspects of the Corporation’s Bank Secrecy Act/anti-money laundering and sanctions compliance programs, including transaction monitoring, training, governance, and customer due diligence. In cooperation with regulators, the Corporation has been, and plans to continue, implementing enhancements to these Programs. The Corporation is continuing discussions with its regulators about the Programs, and resolution of these discussions may include one or more public orders by the regulators. Based on these discussions, the Corporation does not expect these issues relating to the Programs will have a material adverse financial impact on the Corporation.”