Or else face public action
(NEWSER) - Federal regulators have warned Bank of America’s board that the bank will face a public enforcement action if it doesn’t take steps to fix its corporate governance, risk management, and liquidity, sources tell the Wall Street Journal . The bank has been operating under a confidential memorandum of understanding directing it to fix those things since May 2009, but in recent months regulators have warned the bank that if it doesn’t shape up, that informal agreement will become a formal, public order. More»
