Bank of America’s Q3 Profit Falls 17% to $6.93 Billion Amid $1.2 Billion Regulatory Fine

Bank of America reported net income of $6.93 billion for the third quarter of 2026, down approximately 17% from a year earlier, as a $1.2 billion regulatory settlement charge and weaker capital markets performance weighed on earnings. Earnings per share fell to $0.91 from $1.04 in the same quarter of 2025.

Excluding the settlement charge, adjusted net income stood at approximately $8.1 billion, or $1.08 per share. The charge reduced earnings per share by $0.17. Adjusted earnings nevertheless remained below analysts’ consensus estimate of $1.10 per share, according to data compiled by LSEG.

The results followed a $1.2 billion penalty imposed by the Financial Crimes Enforcement Network (FinCEN), part of the US Treasury Department, over deficiencies in detecting and reporting suspicious financial activity and addressing risks related to money laundering and illicit finance.

The penalty includes a $750 million assessment by the Office of the Comptroller of the Currency, which is credited toward the $1.2 billion total. A separate $11.6 million settlement with the Office of Foreign Assets Control addressed apparent violations of US sanctions programs, bringing the combined penalties and settlements to more than $1.21 billion.