Business / Law
Add as a preferred source on GoogleCNBC reported that the senator gave the Justice Department until Nov. 12 to say whether it has investigated the bank or plans to open a criminal inquiry.
Sen. Elizabeth Warren is urging the U.S. Justice Department to investigate Bank of America and its executives over willful anti-money-laundering violations, putting criminal accountability in focus after regulators imposed more than $1.2 billion in penalties. CNBC reported the request, citing a letter first shared with the outlet, and said Warren asked the Justice Department to respond by Nov. 12.
The review counted more than 100 demands, including at least 49 grand jury subpoenas. Separate ballot requests in California and Washington face challenges over federal data.
The September balance stood 1.5% below June’s $1.5 trillion peak, even as annual growth slowed from 53.7% in May.
The complaint alleges executives misled investors about compliance controls; the court has not ruled. FinCEN’s $1.2 billion penalty credits the OCC’s $750 million assessment.
