Bank of America reports USD 70 mln loss on huge legal costs

AFP New York

Last Updated : Oct 15 2014 | 5:35 PM IST

Bank of America reported a USD 70 million third-quarter loss today following a USD 5.3 billion charge to settle mortgage securities litigation.

The loss compared with earnings of USD 1.5 billion last year. The bank also had a loss in the first quarter of 2014 due to hefty legal costs stemming from the financial crisis.

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First Published: Oct 15 2014 | 5:35 PM IST

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