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Consumer Banking to Drive Bank of America’s Third-Quarter Results

Andrew Brunton
Consumer Banking to Drive Bank of America’s Third-Quarter Results

Consumer Banking is Bank of America’s (BAC) largest segment and contributes ~40% to its total revenues. For the last several quarters, the division has benefitted from the improving US economy that has featured an impressive GDP growth rate and a healthy jobs market. The Federal Reserve’s hawkish monetary policy has also benefited US commercial banks (XLF) since December 2015.