Bank Of America Quarterly Profit Drops 43 Percent

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Bank of America
A Bank of America sign is shown on a building in downtown Los Angeles, California Jan. 15, 2014.

(Reuters) -- Bank of America Corp (NYSE:BAC), the second largest U.S. bank by assets, reported a 43 percent drop in second-quarter profit Wednesday as mortgage revenue fell and litigation costs increased.
 
Earnings attributable to shareholders fell to $2.04 billion, or 19 cents per share, in the three months ended June 30 from $3.58 billion, or 32 cent per share, a year earlier.
 
 
(Reporting by Tanya Agrawal and Peter Rudegeair; Editing by Ted Kerr)

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