Well, Well, Well, Look Who Bailed Out 'Death to America' Road- Blockers
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Bank of America profit falls on lower customer interest payments
BofA is among the large lenders, including rival JPMorgan, that are weighing the potential for the U.S. Federal Reserve to cut interest rates this year. The move could crimp banks' income from interest payments, but could potentially spur economy activity and borrower demand. BofA's net interest income (NII) -- the difference between what it earns on loans and pays for deposits -- slid 3% to $14 billion in the quarter due to higher deposit costs and modest loan growth.
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Wells Fargo profit falls as customers cash in on higher interest rates
Profit at Wells Fargo fell as the bank reported a hefty fall in interest income reflecting the need to pay out more to attract depositors.
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Bank earnings: JPMorgan, Citi, Wells Fargo set to post results
JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. have all drawn downward revisions to their first-quarter profit estimates from Wall Street analysts as they prepare to update investors with their latest results. A small drop in loan activity may take a bite out of profits, while a rise in