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Bank of America Legal Woes Shouldn't Surprise, But They Might

Still, Harralson noted an increase in reserves for bad loans at JPMorgan "gives us slight pause," however, he believes Bank of America's reserves will still be below his $400 million estimate "given JPMorgan 's low overall reserve level.

Analysts surveyed by Thomson Reuters are looking for Bank of America to lose seven cents per share on revenues of $21.89 billion. The bank earned 19 cents per share on revenues of $22.20 billion in the second quarter and 58 cents on revenues of $28.70 billion in the third quarter of 2011.

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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