BofA Takes $2.9 Billion Tax Code Charge in 4Q

The transcript discusses various financial metrics and impacts on banks, focusing on revenue growth in wealth management and consumer banking, and the effects of the Tax Act on net income. It highlights the complexities of deferred tax accounting and its challenges. The discussion also covers Bank of America's tax charges and the rise in net interest income, emphasizing the positive performance despite one-time tax impacts. Overall, the financial outlook appears strong, with investors largely unfazed by temporary tax-related charges.

What is the significance of deferred tax accounting in banking?

What was the net interest income for the fourth quarter?