Bank of America on Thursday set aside another $400 million for legal expenses related to government investigations into the manipulation of foreign exchange rates.
As a result of the adjustment to third-quarter results, BofA will now report a loss of 4 cents a share in the three-month period — up from the 1-cent loss previously announced.
Citigroup and JPMorgan have made similar adjustments.
JPMorgan is preparing for around $5.9 billion in losses from legal expenses while Citigroup cut its third-quarter profit by $600 million.
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