2 Reasons the Future Looks Bleak for Bank of America Corp

Bank of America needs to rev up its money-making machinery

Amanda Alix
Amanda Alix
Jul 23, 2014 at 7:07AM
Financials

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.