Bank of America Shares Slip After $1.2 Billion Treasury Fine

Bank of America stock fell 3% in after-hours trading as of 5 p.m. ET on Oct. 13, 2026, after the U.S. Treasury Department disclosed a $1.2 billion fine against the bank. The announcement came during a session already weighed down by rate pressure on other financial and rate-sensitive stocks, including mortgage lender Rocket Companies, which hit its lowest level in a year after analysts cut price targets. The size of the fine puts it among the larger penalties a major U.S. bank has faced from Treasury in recent memory, and the after-hours reaction suggests investors see it as a meaningful one-time hit rather than noise. What the fine specifically covers has not been detailed in the reporting so far. Unresolved is whether Bank of America will need to set aside additional reserves beyond the fine itself, and whether the Treasury action signals a broader enforcement push against other large banks.