Bank of America’s Net Income Falls 6%
Bank of America’s net income fell $3.2 billion compared to a $3.4 billion dollar profit a year ago.
“……more of the company’s borrowers fell behind on payments. Bank of America said it had $31 billion in non-performing assets on its books at the end of the second quarter, an increase of nearly 69 percent over last year. The percentage of loans charged off as uncollectable also surged, from 1.13 percent a year ago to 3.31 percent now.”
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