Bank of America Posts Loss—Will Bank Of America Lend More And Offer Credit Cards In Hope Of Profits?

Bank Of America is one of the largest banks in our nation but even their size didn’t make them immune to the recession that brought many in both the public and private sector low.  Bank of America posted a loss for the final quarter of last year and cites bad loans and credit cards as the source of their trouble, along with repaying their bailout loan.

However, some trace their problem to home mortgage loans not being paid and the loss of income from that as their reason for loss.  Yet, many are wondering if there is going to be tighter lending practices from Bank of America in 2010 that would not only cause small businesses to have little access to capital, but also, as some believe, may hurt the company.

There are still advertisements for credit card, personal, business, and student lending options at Bank of America and many feel that in 2010 BoA will not stop lending but will look to stop wasteful spending.

Home loans seem to be a risky venture nowadays and small businesses, many feel, don’t have the room to grow like they did a few years ago since the economy still suffers from the recession, but Bank of America can’t, and most likely wont, stop lending.

There is simply a call for lenders like Bank of America to make more loans and offer credit to small businesses so the economy can begin to improve unemployment rates and Bank of America can reverse the affects their losses had last year.