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CHRISTIAN BERTHELSEN From:Dow Jones Newswires January 18, 2013 7:56AM

BANK of America’s fourth-quarter profit plunged 63 per cent as the banking giant was weighed down by billions in charges related to a dispute with Fannie Mae and a foreclosure settlement.

Revenue at the Charlotte-based bank, which is the second-largest by assets in the US, also fell, though some of the drop was attributable to accounting issues arising from the way the settlements were booked and changes in the value of the bank’s debt.