Bank of America is scheduled to report third-quarter earnings one day after being hit with a 1.2 billion dollar penalty by the U.S. Treasury Department, which cut net income by 17 cents per share. This charge raises questions about internal controls and risk management at the second-largest U.S. bank by assets, under CEO Brian Moynihan since 2010. Wall Street expected EPS of 1.10 dollar on revenue of 30.69 billion dollars, net interest income of 16.53 billion, fixed income trading revenue of 3 billion and equities trading revenue of 2.8 billion. The release follows mixed results from JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo, with JPMorgan missing EPS and revenue estimates for the first time in years.
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