Bank Of America Reports $1.2 Billion Quarterly Loss
STEVE INSKEEP, host:
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.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.