Bank Of America, Accounting Fraud | featured news

BofA bolsters compliance after $10.7 billion error

BofA bolsters compliance after $10.7 billion error

Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.

 

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