TARP, jobs outlook dampen BofA's Q4 results

01/20/2010 | NYTimes.com

Bank of America has reported a fourth-quarter loss of $5.2 billion, or 60 cents a share, down from a loss of $2.4 billion a year ago and below analysts' estimates of a net loss of 52 cents a share. While investment banks have rebounded, foreclosures and a weak jobs outlook have hurt banks with big retail components like Bank of America. Bank of America also attributed the loss to a $4 billion repayment of Troubled Asset Relief Program money.

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