Wells Fargo notes that the OCC issued a cease and desist order regarding Bank of America's ( BAC ) deficiencies in its BSA and sanctions programs, which the analyst says was "telegraphed" in the bank's Q3 10-Q. "While it's not good being in the regulatory penalty box, the outcome could have been worse," says the analyst, who highlights that no fine was assessed. Wells has an Overweight rating on shares of BofA.