this post was submitted on 08 Aug 2023
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)
submitted 2 years ago by [email protected] to c/[email protected]
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

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[–] [email protected] 12 points 2 years ago

Never profits, always revenue. Profits can be gobbled up by some internal bonus or "future investment in a project", thus making it $0. Revenue is all the money generated before allocations and expenses come out. Much harder to weasle out of.