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Bank of America 4Q loss widens to $1.2 billion 

Jan 21, 2011By

Bank of America [stock BAC][/stock] reported a net loss of $1.2 billion, or 16 cents per share, in the fourth quarter of 2010 as the bank braced for outstanding mortgage repurchase claims. Losses were wider than a year ago when the bank reported a fourth-quarter loss of $194 million. For all of 2010, BofA recorded a net loss of $2.2 billion. Revenue for the fourth quarter was $22.6 billion, an 11% drop from a year ago.

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