Shares in Bank Of America Corp (NYSE:BAC) rose by more than 1.5% in morning trading after the company released its earnings report for the three months beginning July 1. The bank showed earnings ahead of analyst estimates as fewer than projected delinquent loans were on the company’s book in the three month period. There are major problems at Bank of America Corp (NYSE:BAC) that have not been represented by the market’s movements this morning. The earnings report showed that the bank’s revenue was down from last year in the quarter. Rising interest rates are causing loan books to shrink. Bank…
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