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OCC issues cease and desist order against Bank of America for BSA deficiencies

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Summary
Nutrition label

80% Informative

The Office of the Comptroller of the Currency issued a cease-and-desist order against Bank of America .

The OCC says it took this action based on violations and unsafe or unsound practices relating to these programs.

The order requires the bank to take comprehensive corrective actions to enhance its BSA /anti-money laundering and sanctions compliance programs.

VR Score

67

Informative language

59

Neutral language

70

Article tone

formal

Language

English

Language complexity

83

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Affiliate links

no affiliate links