Fed Says It Does Not Object To Bank Of America's Resubmitted Capital Distribution Plan

By Greg RobbMarketWatch Pulse

The Federal Reserve on Thursday announced that it has not objected to Bank of America's resubmitted capital distribution plan. In March, the Fed had asked Bank of America to submit a revised strategy by the end of September. In a statement, the U.S. central bank said the bank has made progress in fixing identified deficiencies in its capital planning processes.

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