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Browsing: Brian Moynihan

Financial institution of America shares drop after third-quarter income miss and regulatory penalty

Hugh SonOctober 17, 20260

Bank of America on Wednesday posted a sharp profit decline after being hit with a $1.2 billion penalty by U.S. regulators, while revenue also disappointed after trading operations generated about $750 million less than expected.

Financial institution of America employed 1,000 contractors to patch software program flaws uncovered by Anthropic’s Mythos

Hugh SonOctober 14, 20260

Bank of America has hired an army of external contractors to help it patch software vulnerabilities exposed by advanced artificial intelligence models including Anthropic's Mythos, the bank's CEO, Brian Moynihan, told CNBC on Wednesday.