BAC · News · 20261030N

AML Regulatory Settlement Charge

BANK OF AMERICA CORP /DE/ · 2026-10-30 · Importance 59 · Surprise 60

Bank of America was fined more than $1.21 billion for failures to report suspicious transactions, an amount above the materiality threshold. The penalty reduced earnings per share by about $0.17 in the reported quarter. The bank reassigned staff and implemented independent reviews to address the compliance failures.

Key facts

• Bank of America acknowledged that the anti-money laundering penalty affected its third-quarter earnings. source
• Penalties reduced Bank of America's EPS by about $0.17. source