BofA To Pay $137M In Muni Bond Bid-Rigging Probe

Law360, New York (December 7, 2010, 4:01 PM EST) -- Bank of America Corp. said Tuesday it would pay $137.3 million in restitution to federal and state agencies for its role in fixing prices in the municipal bond derivatives market, a deal that allows the bank to settle allegations and meet its obligations under the government's antitrust leniency program.

The global resolution will let Bank of America — the first and only entity to come forward to report its behavior to the U.S. Department of Justice before investigators launched their antitrust probe into the industry —...
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