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Bank of America Hired 1,000 Contractors to Patch AI-Exposed Flaws

Brian Moynihan said the bank used 1,000 contractors and 3,000 internal staff to patch vulnerabilities and spent a couple hundred million plus.

Summary by Quartz
The contractors remain on the job alongside 3,000 employees, and CEO Brian Moynihan expects remediation costs to decline

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Brian Moynihan, CEO of the Bank of America, told CNBC that the bank hired 1,000 third parties to correct software failures exposed by AI

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CNBC broke the news in Englewood Cliffs, United States on Wednesday, October 14, 2026.
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