Policy
Bank of America Takes a $1.2 Billion Regulatory Charge as Profit Falls
Treasury and the OCC imposed record anti-money-laundering penalties, while the bank reported third-quarter net income of $6.9 billion and weaker trading results.
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By Marcus Elrod
Oct 18, 2026 · 5 min read
Bank of America absorbed a $1.2 billion regulatory charge in the third quarter after U.S. authorities announced record enforcement actions over failures in the bank’s anti-money-laundering and sanctions controls, pushing quarterly profit below Wall Street expectations.
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Marcus Elrod
Marcus tracks positioning, flows and rates. He writes CI's weekly market internals column.
Marcus Elrod writes for Corporate Insider Inc.