Bank Of America Warned By U.S. Regulators It Must Get Stronger

Source: Reuters

U.S. regulators have informed Bank of America's (BAC.N) board that the company could face public enforcement action if they are not satisfied with recent steps taken to strengthen the bank, the Wall Street Journal said, citing people familiar with the situation.

BofA has been operating under a memorandum of understanding since May 2009. The memorandum, which is not public, identified governance, risk and liquidity management as problems that had to be fixed, the paper said, citing people familiar with the document.

In recent months, regulators met with BofA's board and said they wanted to see more progress on the bank's compliance with the memorandum, the Journal said.

In the absence of progress, the informal order could turn into a formal and public action, which would likely mean intensified scrutiny and greater restrictions, the paper said.


Read more: http://www.huffingtonpost.com/2011/11/22/bank-of-america-warned-by_n_1107270.html

It doesn't have to make sense or work. It just has to be something Fox can sell to viewers.

looks like they'll have to come up with a new plan to send customers away.

not the letter.

.

smelling.

http://www.businessweek.com/news/2011-11-24/bofa-swaps-soar-to-record-as-u-s-company-credit-risk-increases.html

Uh-oh.....

Wall Street gamblers are starting to place their casino chips on a BofA collapse.

Too big to bail.