Bank of America Corp., the largest U.S. bank by assets, reported a $1.24 billion fourth-quarter loss as costs mounted for refunds, writedowns and litigation tied to faulty mortgages.

The loss of 16 cents a share widened from $194 million a year earlier, according to a statement today from the Charlotte, North Carolina-based bank. The lender increased the amount set aside to cover mortgage disputes for the second time in less than a month and added…Click Here To Read More