BofA Could Face Liability For Dollar Rolling

Law360, New York (July 13, 2010, 7:52 PM EDT) -- Bank of America NA's admission that it moved up to $10 billion in debt off its books before reports to the U.S. Securities and Exchange Commission through “dollar rolls” could make the bank vulnerable to criminal and civil actions, and its counterparties vulnerable to SEC enforcement, experts say.

Though Bank of America insists that the dollar rolls had no material effect on any of its statements to investors or the public, the size of the transactions suggests that claim might not hold up, according to Ron...
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