BREAKINGVIEWS — BofA's mega — fine blunted by Team Trump history

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Stephen Gandel NEW YORK, Oct 14 (Reuters Breakingviews) — A $1.2 bln penalty over compliance issues often rattles bank boards and shareholders. Just ask erstwhile CEOs of Citi, TD and Wells Fargo. Boss Brian Moynihan's money-laundering mess leaves him in comparatively tepid water, given the administration's vexing signals on wrongdoing. Full view will be published shortly. Follow Stephen Gandel on LinkedIn and X. Context News Bank of America on October 13 agreed to pay a $1.2 billion fine to settle accusations in a civil case brought by the financial crimes unit of the Treasury Department and Office of the Comptroller of the Currency that it failed to address previously flagged lapses in its anti-money-laundering controls. The US regulators said the bank failed to report in a timely way more than $5 billion of suspicious transactions to Treasury's Financial Crimes Enforcement Network. As part of the settlement, BofA admits that it willfully violated the Bank Secrecy Act and failed to implement and maintain an anti-money-laundering program that met minimum regulatory requirements, Treasury said