Bank of America's earnings missed estimates ($0.91 vs $1.10, down from $1.04 a year ago) largely because of a $1.2 billion Treasury fine for anti-money-laundering and sanctions compliance that cut profit by 17 cents; the stock has fallen about 5% to 7.1% and is under immediate pressure.

Bank of America has released its earnings report. It is below expectations, $0.91 versus estimates of $1.10, down from $1.04 a year ago.

Much of this is due to a $1.2 billion fine from the U.S. Treasury Department, Scott Bessent, for deficiencies in anti-money laundering and sanctions compliance, which reduced quarterly profits by 17 cents.

Scott Bessent made a comment yesterday in which he strongly attacked Bank of America, and this is hurting their profits. I saw the stock down about 5% on my last check because of that news, Nicole.

So yes, a large fine is impacting Bank of America's earnings report. The stock is down by about 5%.

Yes, and in fact, as you were speaking, it has been moving downwards, Kevin, ever since we started. Currently, it has decreased by 7.1%. Therefore, he is certainly under immediate pressure