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Actionable news in BAC: BANK OF AMERICA CORPORATION,

Avoid Bank of America, Despite What Jim Cramer Thinks

When the Federal Reserve finally raised interest rates, there were hopes the financial stocks, particularly large banks such as Bank of America (BAC - Get Report) , would profit. After all, they make more money when there are higher rates on loans and mortgages.

For the most part, that hasn't happened, in part because of large loans some banks made to oil companies, which themselves are struggling because of low prices.

That's one reason you should avoid Bank of America stock, even though it looks appetizingly cheap. The bank reports earnings early Thursday.

Despite its struggles, TheStreet's Jim Cramer holds Bank of America in his charitable portfolio, Action Alerts...


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