Bank Of America Says Q3 Results Will Include Non-Tax-Deductible Charge Of $1.2B Impacting Net Income By About $0.17 Per Share; Our Team Is Far Along With & Committed To Completing Work Required To Address Issues Raised By Our Regulators; Dedicated Substantial Personnel & Resources To Ongoing Remediation Efforts, & Those Costs Are In Current Expense BASE

Bank of America announced that its Q3 results will reflect a non-tax-deductible charge of $1.2 billion, which will reduce net income by approximately $0.17 per share. The company has committed significant personnel and resources to address regulatory issues and is progressing with ongoing remediation efforts, with associated costs included in the current expense base.