Bank of America Stocks Fall 7.14% as Earnings Reveal Costs Beyond the Settlement
Bank of America, the consumer and investment-banking group NYSE:BAC, faces a cost problem that goes beyond its $1.2 billion settlement, with shares at $50.105, down approximately 7.14% at 11.25am EST on October 14. Strip out the charge and the adjusted efficiency ratio still stands at 62%, up from…