{
  "id": 14311584,
  "title": "Stock Market Today, Oct. 13: Bank of America Dips After $1.2 Billion Fine From Treasury Department",
  "url": "https://urgent.news/2026/10/13/stock-market-today-oct-13-bank-of-america-dips-after-1-2-billion-fine",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T21:20:45.000Z",
  "source": {
    "name": "Motley Fool",
    "slug": "motley-fool",
    "url": "https://www.fool.com/coverage/stock-market-today/2026/10/13/stock-market-today-oct-13-bank-of-america-dips-after-usd1-2-billion-fine-from-treasury-department/?source=iedfolrf0000001"
  },
  "original_language": "en",
  "account": "On October 13, Bank of America (NYSE:BAC) experienced a decline in its stock price after receiving a $1.2 billion fine from the U.S. Treasury Department. The bank, which operates in various financial services including consumer, investment, deposit, and lending, saw its shares close at $53.96, marking a 1.14% decrease. Following the fine announcement, investors are anticipating the company's earnings release scheduled for Wednesday. The trading volume for Bank of America's shares reached 43.3 million, approximately 28% higher than its three-month average of 33.8 million shares.\n\nOther notable market movements included the S&P 500 (SNPINDEX:^GSPC) closing at 7,805, down 0.02%, and the Nasdaq Composite (NASDAQINDEX:^IXIC) closing at 27,204, down 0.15%. Within the money center banking and diversified financial services sector, competitors JPMorgan Chase (NYSE:JPM) closed at $331.43, down 0.86%, and Wells Fargo (NYSE:WFC) closed at $80.75, down 3.08%. These declines in banking stocks reflect the broader impact of the earnings season on the market.\n\nThe Treasury Department imposed the $1.2 billion penalty on Bank of America for violations related to anti-money laundering and sanctions laws. The bank allegedly failed to report over $5 billion in suspicious transactions over several years, leading to the regulatory action.",
  "summary": "Bank of America stock is down 3% after hours as of 5 p.m. ET following the announcement of a $1.2 billion fine from the U.S. Treasury Department, today, Oct. 13, 2026.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Nasdaq Markets",
        "title": "Stock Market Today, Oct. 13: Bank of America Dips After $1.2 Billion Fine From Treasury Department",
        "url": "https://urgent.news/2026/10/13/stock-market-today-oct-13-bank-of-america-dips-after-1-2-billion-fine-14312522",
        "published": "2026-10-13T21:40:45.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}