Bank of America's $10 Billion In 2014 Legal Charges Mask Ugly Trends, Net Interest Margin Drops To Lowest On Record | Zero Hedge: "If last quarter Bank of America was forced to report a stunning loss, its first in years, as a result of a $6 billion "one-time, non-recurring" litigation charge which clearly was added back to non-GAAP earnings because it could not possibly become a part of ongoing earnings, in Q2 BofA just reported another whopper of a litigation charge, this time totaling $4 billion. And naturally, BofA was helpful in adding it back to the actual EPS print of $0.19, which was to be expected: the charge itself was $0.22 or more than the actual amount of money earned by the bank in the quarter, resulting in a pro-forma EPS of $0.41 beating Wall Street expectations of $0.29."
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