Bank of America net income drops nearly 50% after tax reform

Bank of America reported its net income dropped in the final quarter of 2017 due to expenses from tax reform, however without these expenses, its earnings surged 17%. The bank’s CEO said the company had a positive year, claiming, “We invested in technology, client engagement, and in our own team, including the $1,000 bonus we announced last month for 145,000 employees.”