BofA is more prepared for next stress test, CFO says

Chief Financial Officer Bruce Thompson said Wednesday that Bank of America is on better footing for the Federal Reserve's 2014 stress test than it was for this year's test, having increased earnings, cut expenses, raised capital ratios and ended some legal issues. Thompson would not say whether the bank would seek a dividend increase. The bank's capital ratio sat at 9.6% as of the second quarter, and officials expect to have reached $1.5 billion in expense cuts by the end of the year.

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