Bank of America Corporation (BAC)

The company now

Bank of America reported third-quarter 2026 net income of $6.9 billion, down from $8.3 billion a year earlier, on revenue up 3 percent to $30.0 billion 1. Net interest income, what loans and securities earn minus what deposits and borrowings cost, rose 8 percent to $16.4 billion 1. The fall in profit came from one charge: $1.2 billion set aside for regulators' penalties, without which net income would have been $8.1 billion 1.

On 13 October the Treasury fined the bank $1.2 billion for failing to report risks tied to Chinese money laundering networks and illicit finance along the southwest border 3. The penalty includes $750 million for the Office of the Comptroller of the Currency, the national bank regulator, the largest fine that agency has ever imposed 3. Treasury said Bank of America admits it willfully violated the Bank Secrecy Act, the 1970 law that makes banks help the government detect money laundering 3.

Reuters reported that the failures left more than $5 billion of suspicious activity unreported, and that a consent order requires the bank to work with a third party to find what was missed 4. Finance chief Alastair Borthwick told analysts the order carries no asset cap, a limit on the bank's size, and does not constrain normal business, MarketBeat reported 5. Moynihan said the continuing cost of the repair work is already in the bank's expense base 5.

As of Oct 28, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.