Bank of America adds $ 4 billion to its reserve for problem loans
Bank of America has increased its reserve for problem loans to more than $ 5 billion as it prepares for borrowers who miss their payments and bankruptcies as businesses forced to limit operations during the pandemic. coronavirus.
Headquartered in Charlotte, North Carolina, Bank of America has the largest business volume of any Connecticut bank with 23 cents of every dollar on deposit for $ 32 billion as of June 2019, and nearly 120 branches across the state. People’s United Financial will release its second quarter results next week, with the Bridgeport-based bank being the largest depositor in Fairfield County.