Federal Reserve terminates 2010 enforcement action against Bank of America

The Federal Reserve announced it had terminated a 2010 enforcement action taken against Bank of America after the bank admitted to bid-rigging in the municipal debt market.

The termination means the bank is no longer required to submit quarterly progress reports to the Fed on how its risk management program monitors competitively bid transactions.

The original agreement was struck as part of a broad settlement the bank made with the federal government, under which it agreed to pay $137.3 million in restitution, after admitting traders conspired to rig bids on competitive municipal bond contracts.

Re-disseminated by The Asian Banker from CNBC

Diary of Activities
The Future of Finance, Indonesia
27 July 2017 | Indonesia
The Future of Finance, China
02 - 03 August 2017 | China
The Retail Banking Leadership Programme 2017
14 - 18 August 2017 | London
UK Innovation Tour
14 - 18 August 2017 | United Kingdom
Taiwan Country Awards
07 September 2017 | Taiwan
Korea Retail Banking Dialogue
15 September 2017 | Korea