In bank earnings reports, how much the business made depends on past bills, and those need to be looked at too. Bank of America was fined approximately $1.21 billion for anti-money laundering and sanctions compliance deficiencies. The bank stated that $1.2 billion in expenses will be recorded in Q3, dragging down EPS by about $0.17. When reviewing tonight's earnings report, break out this expense first, then look at loans, net interest income, and credit costs. Fines can be listed separately, but whether remediation costs will persist is something to watch going forward. It's more important to ask where the lost earnings came from than just focusing on whether they beat expectations. #USStocks #BankEarnings Treasury Department original statement https://home.treasury.gov/news/press-releases/sb0657