BofA Reports Billion-Dollar Quarterly Loss

Courtesy NPR Programs: Morning Edition  Fri, 10/16/2009 - 6:23am

Bank of America on Friday said it lost a billion dollars last quarter. It said unemployment and underemployment continue to hurt customers' ability to pay back their loans, such as credit card and mortgages.

On Thursday, the bank's embattled CEO Ken Lewis accepted a government request to get no salary or bonus for 2009, and to pay back a million dollars he's received so far this year.

Lewis plans to step down at the end of the year.

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