Fed says does not object to new Bank of America capital plan

December 10, 2015 2:20 PM

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Fed says does not object to new Bank of America capital plan

WASHINGTON The Federal Reserve on Thursday said it had not objected to a resubmitted capital plan from Bank of America, saying the U.S. bank had made progress strengthening its "loss and revenue modeling practices and its internal controls."

The central bank had asked Bank of America in March to file its plan again and address "certain deficiencies in its capital planning processes."

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