Bank of America Q2 profits drop as higher interest rates slow down lending 

BANK OF AMERICA said Tuesday 2024, its profits fell in the second quarter, as higher interest rates ate into expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America saw a resurgence of activity in its investment banking division, which helped make up for some of the weakness in other parts of the business. / ASSOCIATED PRESS PHOTO / ELISE AMENDOLA

NEW YORK (AP) – Bank of America Corp. said its profits fell in the second quarter, as higher interest rates ate into BofA’s expenses, including its large consumer banking franchise.  But like Goldman Sachs, Bank of America saw a resurgence of activity in its investment banking division which helped make up for some of the

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