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2 Reasons the Future Looks Bleak for Bank of America Corp

Bank of America's (NYSE: BAC  ) serious dip in profits from one year ago was largely attributed to legal costs – and, no doubt, they were onerous. Looking below the surface, however, is a simmering problem: the bank doesn't seem to have a consistent method for making money.

This issue is becoming even more apparent now that one big way B of A has been propping up its bottom line – cutting costs – is waning. More disquieting, however, is the fact that the bank just isn't making loans, despite its efforts to bolster that activity. The slideshow below highlights a few reasons why the future still isn't bright for the Charlotte, NC-based megabank.

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  • Report this Comment On July 23, 2014, at 7:23 AM, Rifleman3006 wrote:

    Seriously, almost every segment of their business is growing. Another foolish article of little truth or substance.

  • Report this Comment On July 23, 2014, at 3:02 PM, spokanimal wrote:

    Poorly written.

    BAC has purposely focused on mortgage lending targeted at existing clientele while it navigates it's way through the myriad, mortgage-related lawsuits.

    Most alarming is the fact that Eric Holder's Department of Justice (DOJ) isn't willing to divulge what will become of any windfall that it is able to extract from BAC...

    ... very few of the people actually HARMED during the credit crisis of 2008/2009 will actually SEE any of the Loot that Holder is holding these banks hostage for.

    It's all political, and the anti-bank/anti-corporation philosophies of Holder and Obama are at the heart of what is essentially, "lawsuit larceny".


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Amanda Alix

Foolish financial writer since early 2012, striving to demystify the intriguing field of finance -- which, contrary to popular opinion, is truly what makes the world go 'round.

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