Bank of America Fined $1.2B for Compliance Failures; ASML Raises Guidance on AI Demand
The U.S. Department of the Treasury has fined Bank of America (BAC) over $1.2 billion in penalties due to violations related to anti-money laundering and sanctions compliance, including failures involving Chinese money laundering networks and blocked persons under OFAC programs. The penalty comes ahead of BofA's earnings report scheduled for today before market open. ASML (ASML), a leading chip equipment manufacturer, raised its 2026 sales guidance to €44–€45 billion due to strong AI-driven demand expected through at least 2028. The company also anticipates maintaining a gross margin of around 56% and is considering increasing production beyond previously planned levels. Barclays downgraded Dell (DELL), Hewlett Packard Enterprise (HP), and NetApp (NTAP) to equal-weight, citing stretched valuations and the absence of clear AI-driven spending inflections in enterprise markets.
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Topics: Bank of America BSA/AML violations Treasury penalties