He cited rising loans, retail sales in January and growing power output and consumption since the middle of February.
The bank provides products and services that include credit cards, mortgage loans, retail banking, brokerage services, equity underwriting and corporate lending.
As the nation's largest bank, Bank of America, based in Charlotte, N.C., is closely watched as a proxy for the broader financial services industry, especially because it provides a supermarket of services, including consumer and business loans, retail banking and sophisticated Wall Street trading through its Bank of America Merrill Lynch unit.
The Retail Banking segment offers a diverse portfolio of products and services, such as retail loans, retail deposits, bank cards and wealth management services.
The Non-Strategic Assets Portfolio segment offers commercial residential development loans, cross-border leases, consumer brokered home equity loans, retail mortgages, non-prime mortgages, and residential construction loans.
Car loans, retail credit cards and personal loans handed out online are the most exposed to the inflated scores, according to DeRitis.
It offers real estate-secured loans, installment loans and retail installment sales financing.
The payment of the £1.5m loan from Retail Acquisitions was complex.
Part of the professional fees was an £8.4m loan to Retail Acquisitions, taken out in March 2015, which the Guardian has already reported.
The Guardian revealed last week that the home was on the brink of repossession before the £1.5m loan from Retail Acquisitions was used to pay off debts against it.
