Bank of America slips after a $1.2 billion penalty, hours before earnings and CPI
Futures edge higher ahead of the September inflation report.
First Light · Wednesday, October 14, 2026 · 6:15 AM ET
Bank of America shares fell more than 2% in extended trading Tuesday after US regulators announced more than $1.21 billion in penalties over anti-money-laundering and sanctions failures (CNBC). The bank reports third-quarter results Wednesday morning, the same day as the September inflation report.
The penalties
The Treasury Department said the penalties include $1.2 billion from its Financial Crimes Enforcement Network, a record $750 million civil penalty from the Office of the Comptroller of the Currency that counts toward that total, and an $11.6 million sanctions settlement with the Office of Foreign Assets Control. Treasury said Bank of America admitted it willfully violated the Bank Secrecy Act and failed to report more than $5 billion in suspicious transactions. CNBC reports the bank said it has invested billions in compliance, is "far along" in remediation, and expects a $1.2 billion non-tax-deductible charge that reduces third-quarter net income by about 17 cents a share.
Futures and the CPI test
CNBC had S&P 500 futures up 0.21% and Dow futures up 125 points at 4:35 AM ET. Economists polled by Dow Jones expect September consumer prices up 3.6% from a year earlier (CNBC), and Reuters reported the same average; our earlier CPI preview cited forecasts of 3.7%. The report comes at 8:30 AM ET. CNBC said big banks' shares ended Tuesday lower despite strong results, with Goldman Sachs and Citigroup falling; see our bank earnings story and the Dusk Ledger.