Uploaded by FinancialNewsOnline on Nov 22, 2011
According to the Wall Street Journal, citing individuals familiar with the matter, Bank of America's board (NYSE:BAC) was informed by U.S. regulators that the company could deal with public enforcement with recent steps taken to strengthen the bank.
The bank has been working 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 publication said, citing people familiar with the document.
Over the recent months, regulators met with Bank of America's board and said they wanted to see more progress on the bank's compliance with the memorandum, the Journal said.
Bank of America (NYSE:BAC) has potential upside of 76% based on a current price of $5.54 and an average consensus analyst price target of $9.75
The bank has been working 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 publication said, citing people familiar with the document.
Over the recent months, regulators met with Bank of America's board and said they wanted to see more progress on the bank's compliance with the memorandum, the Journal said.
Bank of America (NYSE:BAC) has potential upside of 76% based on a current price of $5.54 and an average consensus analyst price target of $9.75
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