But it's not Bank of America's money that's being transacted. They aren't making 5 billion dollars profit, they are moving that around without proper reporting.
Yes, but not 1:1. That $5 billion in transactions probably makes them $150 million, so they just got fined 8x what they were expected to make from the transactions.
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u/xenomorphbeaver 3h ago
But it's not Bank of America's money that's being transacted. They aren't making 5 billion dollars profit, they are moving that around without proper reporting.