Bank of America reverses losses as mortgage earnings increase

April 16, 2015 8:34 AM

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Bank of America reverses losses as mortgage earnings increase

Cost-cutting efforts short of market expectations, shares fall about 1.2 per cent

Bank of America reported a better-than-expected first-quarter profit, reversing from a year-earlier loss, as legal costs fell steeply and the bank earned more from mortgage lending.

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