Mortgage Troubles Still Haunt Bank Of America

(By Rick Rothacker, rrothacker@charlotteobserver.com) Bank of America Corp. reported Friday a first-quarter profit, a shake-up in its executive ranks and an agreement to settle mortgage loan buyback requests from an insurer.The Charlotte-based bank, after two consecutive money-losing years, reported a profit for common shareholders of $1.7 billion, down 39 percent from a $2.8 billion gain a year earlier.

Topics:  rick rothacker   america   corp   charlotte-based   mortgage   profit   reported   billion   loan   

 

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