Bank Of America Reports $1.2 Billion Quarterly Loss

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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.


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.

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