Investors bought stocks and bonds, shed cash in past week, say BofA
SAN DIEGO, Oct. 15, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating potential claims on behalf of current, long-term shareholders of Bank of America Corporation (NYSE: BAC) against certain of its officers and directors for alleged breaches of fiduciary duty.
Bank of America deployed 1,000 contractors and 3,000 employees to fix software flaws discovered by Anthropic's Mythos and other frontier artificial intelligence models, CEO Brian Moynihan told CNBC in a report published Wednesday (Oct. 14). The bank added the contractors in the second quarter and is still employing them, according to the report.
The US's second-largest bank is protecting itself against powerful AI models. Bank of America hired 1,000 consultants to shore up cracks in its software that could be exploited.
The CEO's the U.S.'s biggest banks all chimed in on the risks of related to the massive AI buildout, but how there's still no sign that investments need to slow down.
Bank of America has been fined over $1.2 billion for violating anti-money-laundering and sanction laws.
Bank of America added 1,000 third-party consultants to support 3,000 internal staff in patching proprietary and vendor software flaws exposed by Anthropic's Mythos. Software patching combined with anti-money laundering compliance added hundreds of millions in third-quarter costs, which CEO Brian Moynihan expects to decline over time.