Bank of America in settlement talks with US regulators over employee cell phone use | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
July 13, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JULY 13, 2025
Bank of America in settlement talks with US regulators over employee cell phone use

Global Economy

Reuters
31 July, 2022, 02:05 pm
Last modified: 31 July, 2022, 02:08 pm

Related News

  • Berkshire's cash soars to $325 billion, Buffett sells Apple, Bank of America
  • Facebook, Instagram could have 12 million paying subscribers by early 2024: Bank of America
  • Goldman Sachs, BofA expect three more US rate hikes this year
  • Bank of America CEO predicts income boost from higher rates
  • Investor pessimism worst since 2008 crisis, Bank of America says

Bank of America in settlement talks with US regulators over employee cell phone use

Reuters
31 July, 2022, 02:05 pm
Last modified: 31 July, 2022, 02:08 pm
A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri
A person walks past a Bank of America sign in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Carlo Allegri

Bank of America said on Friday that it is engaged in settlement talks with the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over staff communications on unapproved devices.

Earlier in July, the bank said it had earmarked roughly $200 million for fines it expects to come from regulatory probes into the unauthorised use of personal phones by bank staff.

The SEC has been looking into whether Wall Street banks have been adequately documenting employees' work-related communications, such as text messages and emails, during the work-from-home period of the pandemic.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In December, the SEC and the CFTC fined JP Morgan Securities $200 million for "widespread" failures to preserve staff communications on personal mobile devices, messaging apps and emails.

Other major investment banks including Morgan Stanley, Citigroup and Barclays have also put aside cash to cover similar expected fines.

Regulators require banks to keep records of all business-related communications and as a result financial firms typically ban the use of personal email, texts and other social media channels for work purposes, although bankers do not always comply with those rules.

The SEC's head of enforcement has said banks' failure to fully record all staff communications has hampered its probes into other, unrelated issues.

World+Biz / USA

Bank of America

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Dollar price plummets by Tk2.9 in a week as demand wanes
    Dollar price plummets by Tk2.9 in a week as demand wanes
  • Screengrab blurred
    Mitford murder sparks political storm as BNP on backfoot, Jamaat and NCP pounce
  • Representational image
    Some issues remain unresolved despite progress in 2nd round of US tariff talks: Press Minister Mortoza

MOST VIEWED

  • Representational image
    In addition to 35% tariff, US demands 40% local value addition for 'Made in Bangladesh' goods
  • RAB Director General AKM Shahidur Rahman speaks at the press briefing on a fake bomb threat on Biman Bangladesh flight on Saturday, 12 July 2025. Photo: TBS
    Mother faked bomb threat on Biman flight to stop married son from flying with girlfriend: RAB
  • Screengrab blurred
    Killers bash in head of man with rock, stomp body with perverse pleasure
  • Photo: UNB
    Saima Wazed Putul ‘placed on indefinite leave’ from WHO role amid corruption allegations
  • How tender rules and a lone bidder stall a $2.5b power plant
    How tender rules and a lone bidder stall a $2.5b power plant
  • Bangladesh and US hold tariff talks on 11 July 2025. Photo: CA Press Wing
    Dhaka, Washington yet to agree on 20% of US tariff conditions: BGMEA

Related News

  • Berkshire's cash soars to $325 billion, Buffett sells Apple, Bank of America
  • Facebook, Instagram could have 12 million paying subscribers by early 2024: Bank of America
  • Goldman Sachs, BofA expect three more US rate hikes this year
  • Bank of America CEO predicts income boost from higher rates
  • Investor pessimism worst since 2008 crisis, Bank of America says

Features

The 2020 Harrier's Porsche Cayenne coupe-like rear roofline, integrated LED lighting with the Modellista special bodykit all around, and a swanky front grille scream OEM Plus for the sophisticated enthusiast looking for a bigger family car that isn’t boring. PHOTO: Ahbaar Mohammad

2020 Toyota Harrier Hybrid: The Japanese Macan

9h | Wheels
The showroom was launched through a lavish event held there, and in attendance were DHS Motors’ Managing Director Nafees Khundker, CEO Imran Zaman Khan, and GMs Arman Rashid and Farhan Samad. PHOTO: Akif Hamid

GAC inaugurate flagship showroom in Dhaka

9h | Wheels
After India's visa restriction, China's Kunming is drawing Bangladeshi patients

After India's visa restriction, China's Kunming is drawing Bangladeshi patients

1d | Panorama
Photo: Collected/BBC

What Hitler’s tariff policy misfire can teach the modern world

2d | The Big Picture

More Videos from TBS

Why is there a mystery surrounding the death of 'Jalibi' actress Humaira?

Why is there a mystery surrounding the death of 'Jalibi' actress Humaira?

1h | TBS World
Why cockpit audio deepens the mystery of Air India crash

Why cockpit audio deepens the mystery of Air India crash

2h | Others
Housing officer shot in Pallavi for not paying bribe

Housing officer shot in Pallavi for not paying bribe

3h | TBS Today
BNP does not protect criminals like Sheikh Hasina: Rizvi

BNP does not protect criminals like Sheikh Hasina: Rizvi

2h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net