Law360, Washington (August 6, 2014, 12:09 PM EDT) -- The Federal Reserve has tacitly approved Bank of America Corp.’s revised capital plan, resubmitted in May after an accounting error had forced the bank to suspend its planned dividend payments and share buybacks, the regulator announced Wednesday.
In a brief statement, the Fed said that it “has not objected” to the banking giant’s revised capital plan after it had in April required the bank to resubmit its plan, following BofA’s disclosure that it had incorrectly reported some data, originally publicly unveiled in March.
According to the Fed, the resubmitted plan addresses the quantitative errors in BofA’s regulatory capital calculations, with the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!