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Bank of America Profit's Fell More Than 50% on One-Time Charges

Bank of America is out with its fourth-quarter earnings this morning. The bank said earnings would have been better if not for the one-time items. The drop in earnings is largely because of one-time items that investors already expected: + The bank said earlier this week that it would [take a $1.6 billion charge](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-01-08-2024/card/bank-of-america-to-take-1-6-billion-charge-OcIO9EMyrNo2feOwgZYC) related to the transition away from the London Interbank Offered Rate.
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