BofA’s debt cuts leave 3-year capital cushion

BANK OF AMERICA expects to use consumer deposits to fund operations for the next three years, thanks to an aggressive debt-reduction program it has undertaken. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS
BANK OF AMERICA expects to use consumer deposits to fund operations for the next three years, thanks to an aggressive debt-reduction program it has undertaken. / BLOOMBERG NEWS FILE PHOTO/DAVID PAUL MORRIS
CHARLOTTE, N.C. - Bank of America Corp.’s record $53 billion reduction of long-term debt in the second quarter will help the lender go three years…

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