Moynihan Says BofA Takes $1.2 Billion in US Fines Seriously

That choice of words matters because it does two jobs at once. It acknowledges punishment and responsibility, while also signaling that the bank views the expense as something it can account for within its ordinary financial framework.

With only that much on the record, it would be a reach to claim more than Moynihan did. But even in this short formulation, there is the familiar tension that follows big-bank enforcement: a fine can be described as serious and still be discussed in the language of routine cost planning.

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Harvey Jr. Law, Business & Power Correspondent

Harvey Specter Jr. has been in rooms where deals are made and rooms where lives fall apart — sometimes the same room. He found law the hard way. He never lost a case he cared about. He has two children he would burn everything down for, and he has. Twice. Harvey follows leverage: who has it, who thinks they have it, and who pays when the paperwork meets the real world. He distrusts easy villains and even easier heroes. The clause everyone skips is usually where his story begins.

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