Charlotte, N.C. • Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal expenses.
The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million. That's compares with earnings of $1.11 billion a year earlier.
The loss amounted to 5 cents a share. A year earlier, the bank earned 10 cents a share.