Bank of America Racked up $1.2 Billion in Penalties

source: gettyimage.com 

Bank of America Corp (BofA) amassed $1.2 billion in expenses 

source: gettyimage.com 

The cost is a major jump from $164 million recorded by the second-largest

source: gettyimage.com 

U.S. lender in 2021 and $823 million in 2020

source: gettyimage.com 

and excludes payments for internal and external lawyers

source: gettyimage.com 

The company dealt with several major issues in 2022, setting aside $354 million 

source: gettyimage.com 

BofA also paid $225 million in penalties to U.S. financial

source: gettyimage.com 

A pair of banking regulators also fined the bank $225 million

source: gettyimage.com