BofA's focus on 'controllable' factors drives another quarter of better-than-expected earnings

Charlotte-based Bank of America Corp. (NYSE: BAC) posted net income of $5.8 billion, or 56 cents in diluted earnings per share, in the third quarter. That's a 19% drop from $7.2 billion in net income in the third quarter of 2018. The decline comes from a $2.1 billion charge as BofA winds down its merchant services venture with First Data, a payments processing company acquired by Fiserv in July. Banc of America Merchant Services' contract ends in June 2020, but it will provide services to clients…

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