BofA posts second-quarter loss on mortgage settlement
CHARLOTTE, North Carolina (Reuters) – Bank of America Corp posted a second-quarter net loss after agreeing to an $8.5 billion settlement with mortgage bond investors.
The largest U.S. bank by assets reported on Tuesday a net loss of $8.8 billion, or 90 cents per share, compared with net income of $3.1 billion, or 27 cents per share, a year earlier.
(Reporting by Joe Rauch; editing by John Wallace)
Source: Reuters US Online Report Business News