Boardroom Briefing

Bank of America hit by legal costs

20th July, 2014

Bank of America hit by legal costs

Net income at Bank of America dropped substantially for the second quarter of this year, after the bank was hit with massive legal costs.

Last week, the bank reported net income of $2.3 billion for the second quarter of 2014, compared to net income of $4 billion for the same period a year earlier. The 43 per cent decline in net income came after the bank faced a...

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