Bank of America 4Q profits fall with lower interest rates

BANK OF AMERICA earned $6.99 billion in the fourth quarter. / AP FILE PHOTO/STEVEN SENNE
BANK OF AMERICA earned $6.99 billion in the fourth quarter. / AP FILE PHOTO/STEVEN SENNE
NEW YORK (AP) – Consumer banking giant Bank of America is saying its fourth-quarter profits fell 4% from a year ago, as the bank was impacted by the rapid decline of interest rates in late 2019. The Charlotte, N.C.-based bank said Wednesday that it earned a profit of $6.99 billion, or 74 cents a share,…

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