Bank Of America Reports $1.2 Billion Quarterly Loss

The nation's biggest bank is still digging itself out from under the mortgage crisis. Bank of America reported a fourth-quarter loss of $1.2 billion. Total losses for last year amounted to more than $2 billion.

Copyright © 2011 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.


Bank of America reported a fourth-quarter loss of $1.2 billion total losses for last year. The nation's biggest bank amounted to more than $2 billion. Bank of America is still struggling with its purchase of the troubled mortgage lender, Countrywide Financial.

Also hurting the bottom line is billions of dollars the bank set aside to deal with disputes with mortgage investors.

Copyright © 2011 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

Support comes from: