Bank of America's profit falls on a $1.2 billion penalty charge as Morgan Stanley, BlackRock and State Street report gains →
Bank of America, Morgan Stanley, BlackRock, State Street and Progressive reported results on October 14, 2026. Bank of America's third-quarter net income fell to $6.9 billion from $8.3 billion after a $1.2 billion charge for penalties tied to anti-money-laundering and sanctions orders, while Morgan Stanley, BlackRock and State Street reported higher profits and Progressive's quarterly net income was slightly lower.