Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge
Bank of America shares fell Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges.
The bank said it was hit by a pretax charge of $1.6 billion in the quarter related to the transition away from the London Interbank Offered Rate.
Bank of America stock is down 2.6% this year after a mere 1.7% gain in 2023. $Bank of America (BAC.US)$
The bank said it was hit by a pretax charge of $1.6 billion in the quarter related to the transition away from the London Interbank Offered Rate.
Bank of America stock is down 2.6% this year after a mere 1.7% gain in 2023. $Bank of America (BAC.US)$
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