Bank of America (BAC) shares fell 1.82% to $50.14 on February 24, 2026. This decline followed the Financial Select Sector SPDR Fund (XLF) breaking through critical support at $50.90, which triggered a broader banking sector selloff.
The downturn reflects mounting market anxiety over the Credit Card Competition Act of 2026 and proposed federal caps on credit card interest rates. Additionally, the finalization of Basel III Endgame capital requirements has increased regulatory pressure on major lenders.
BAC’s technical outlook deteriorated after a bearish crossover on its 20-day Simple Moving Average. The stock remains highly sensitive to new swipe fee legislation that mandates routing competition and threatens retail card profitability. Bank of America has declined 10% year-to-date in 2026.