BofA's Borthwick says bank has completed a lot of work required in consent order
BAC•Bank of America CFO Alastair Borthwick said the bank has completed much of the work required under a consent order. He also said deal pipelines are strong and the bank enters the final quarter of 2026 with good momentum.
1. Consent order progress
Bank of America CFO Alastair Borthwick said the bank has worked with regulators to reach resolutions over regulatory action and has completed a lot of the work required under the consent order.
2. Business conditions
Borthwick said deal pipelines are strong and the bank enters the final quarter of 2026 with good momentum. He said revenue was lower in certain fixed-income, currencies and commodities businesses, including mortgages, municipals and credit.
3. AI investment
Borthwick described the AI buildout as significant in terms of its impact on GDP and required capital.
