The U.S. government has poured trillions of dollars into financial markets and launched stimulus programs to support individuals and small businesses whose income has stalled due to the virus. “Our results were impacted by a $3.1 billion reserve build, which reflected the expected impact these unprecedented times could have on our customers,” Chief Financial Officer John Shrewsberry said in a statement. The fourth-largest U.S. lender’s quarterly profit fell to $42 million, or 1 penny per share, from $5.51 billion, or $1.20 per share, a year earlier. …read more
Source:: Yahoo Finance
