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Bank of America CFO says credit quality "unchanged in any meaningful way," but company shares still fell 7.28% this month.
Bank of America (NYSE:BAC) CFO stated in an interview today that credit quality trends show "no real change" and business activity remains strong. However, the company's stock price has fallen 7.28% in one month. Previously, Bank of America projected a more than 10% decline in third-quarter investment banking fees and faces a $2.2 billion risk to net interest income (NII) from interest rate cuts, factors that are pressuring the stock price.
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