Bank of America stock fell 5% to $51 in morning trading after its third-quarter 2026 results missed expectations for revenue and adjusted earnings. The main cause was a $1.2 billion money laundering penalty imposed by the Office of the Comptroller of the Currency and the Financial Crimes Enforcement Network, which cited weaknesses in Bank Secrecy Act, anti-money laundering and sanctions safeguards and concluded the bank had effectively outsourced its compliance obligations. Adjusted EPS was $1.08 against a $1.10 consensus, and revenue was $29.96 billion against a $30.58 billion estimate, while the non-tax-deductible penalty cut GAAP EPS by $0.17. The charge also ended a streak of six consecutive quarterly beats. Meanwhile, net interest income rose 8% to $16.45 billion and average loans grew 6% to $1.23 trillion, but investment banking fees fell 11% and fixed income, currencies and commodities trading revenue dropped 17%.
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Related tickers and likely impact
JPM
• NeutralJPMorgan Chase
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Financials |
| Industry | Diversified Banks |
| Market cap | $891.9B |
| Close on 10/13/2026 | 331.43 |
| Change that session | -0.86% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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