Bank of America adds a profit miss to the misery of a $1.2 billion government fine

Bank of America adds a profit miss to the misery of a $1.2 billion government fine Bank of America adds a profit miss to the misery of a $1.2 billion government fine Revenue came up short of expectations, amid weakness in investment banking and sales and trading businesses Bank of America's stock falls as investor disappointment over the $1.2 billion government fine added to the bank's downbeat earnings report. Shares of Bank of America sank in early Wednesday trading as the banking giant followed news of a massive government fine with earnings that missed expectations, citing weakness in its investment banking and trading businesses. But the bank did report growth in commercial-lending and consumer-loan activity, a sign that the recent surge in bond yields and the Federal Reserve’s interest rate hike curtailed demand for borrowing.

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