Transcript Checking

Hi guys, this is my 1st time to post and I currently have a few concerns/worries regarding the followings.

I am currently a finance sophomore and looking to work in an investment bank in the future. However, recently I have been involved in a disciplinary issue which I will have a meeting with the Faculty to discuss this. In the worst (and most likely) case, it would lead to a demerit on my transcript, which would only be removed when I graduate if I did not commit any offences again. So I have a few questions on this:

1. When would HRs start looking at my transcript? Do they immediately check my transcript before offering interviews or only do so before Superdays/after extending offers?
2. I know this certainly hurts, but to what extent would this harm my chance in landing a banking internship offer (like would HRs immediately reject my application right after they see the transcript in the application process)?
3. Does networking help on the above occasion? I know a few alumni who can refer me, but in this case does it work?
4. What can I do to prepare for a future career in finance (in particular IB and S&T)? Or is it all over for me and that I should consider switching to other fields?

Much advice is appreciated. Thanks so much!!

p.s. Feel free to PM me which college I am currently in if you have any insider information. Thanks!