Bank of America Hires 1,000 Contractors to Fix AI-Exposed Software Flaws

Key Facts

1Bank of America hired 1,000 third-party consultants to support 3,000 internal staff in patching software flaws exposed by Anthropic's Mythos.

2Software patching and anti-money laundering compliance added hundreds of millions in third-quarter costs.

Bank of America hired 1,000 third-party consultants to support 3,000 internal staff in patching software flaws exposed by Anthropic's Mythos system. CNBC reported that software patching and anti-money laundering compliance added hundreds of millions of dollars in costs to the bank's third-quarter expenses.

BAC closed at $53.96 on October 13, 2026, as the bank managed the spike in operational costs. Among peers, Citigroup closed at $124.53 and Wells Fargo at $80.74 on October 13, 2026, while JPMorgan Chase was trading at $333.57 on October 14, 2026.