Federal Reserve Lifts Two-Year Order On BofA

Law360, New York (February 28, 2007, 12:00 AM EST) -- The Federal Reserve Board announced Tuesday that it had lifted an enforcement order against Bank of America Corp., two years after the bank paid $375 million to settle claims of improper trading.

The Federal Reserve gave no reason for terminating the action, but a spokesman for the Office of the Comptroller of the Currency said the OCC dropped a similar order Tuesday because the agency was satisfied the Bank of America had lived up to its promises.

OCC spokesman Kevin Mukri said the bank had entered...
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