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Bank Of America's 'All Other' Unit: More One-Time Charges To Come?

When Bank of America (NYSE:BAC) recently reported earnings for Q4'14 many investors were 'disappointed' because the quarter's earnings of $0.25 per share fell short of analysts' predictions of $0.32 per share. BAC's share price fell to almost $15 per share as a result. The bank reported total revenue (net of interest expense) of $19 billion and a total noninterest expense of $14.2 billion. However, net income was only $3 billion. Bank of America reports quarterly results in six units - Consumer & Business Banking; Consumer Real Estate Services (CRES); Global Wealth and Investment Management; Global Banking; Global Markets; and All Other. The bank's All Other unit contributed to the shortfall in earnings with a net loss of $378 million for the quarter. All Other's revenue was not only reduced by "net interest income decline" and "noninterest income decline," but was also subjected to a loss in "equity investment income" as well as a "U.K. payment protection insurance…