$12mm? So that's gotta be like... half an hour's worth of revenue for them?
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Looked it up - according to https://www.macrotrends.net/stocks/charts/BAC/bank-of-america/revenue it's about 3 hours' worth, using their 12 months to Sep 23 revenue.
Wait no that's the quarterly number - it's actually 0.8 hours so my hyperbolic guess was incredibly close 🤣
Built in to their budget.
This is the “something” they have to give the regulators from time to time to give everyone their cut.
Someone comes out a hero and lands a nice office in the “private sector”