Published December 10, 2015 9:06am EST | Updated December 10, 2015 3:08pm EST

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

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.