Bank of America posts its first loss since 1991
Bank of America Corp, the largest US bank by assets, posted its first loss since 1991 and cut the dividend after receiving emergency funds from the government to support the acquisition of Merrill Lynch & Co.
Bank of America Corp , the second-largest US bank, on Monday said first-quarter profit fell 77 percent, hurt by trading losses and a $3.3 billion increase in reserves for credit problems.