BofA posts record profit as higher rates fuel consumer unit

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BANK OF AMERICA reported a profit of $7.31 billion in the first quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI/GETTY IMAGES
BANK OF AMERICA reported a profit of $7.31 billion in the first quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI/GETTY IMAGES
NEW YORK - Bank of America Corp.’s consumer bankers outdid their colleagues in trading for the second quarter in a row as the company leaned on retail lending to generate record profit. Net interest income at the consumer unit - revenue from customers’ loan payments minus what the bank pays depositors - climbed 9.7% in…

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