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Bank of America accounted for $403 million in possible bad loans as Chief Executive Brian Moynihan alluded to an “increasingly slowing economic environment,” while Citigroup reserved $640 million and Wells Fargo $397 million for similar purposes.
Source: https://www.kuwaittimes.com/big-us-banks-report-mixed-earnings/
NEW YORK (Reuters) - Bank of America Corp's Chief Executive Officer Brian Moynihan had a clear message for shareholders on Tuesday: "We are capitalists."