BofA says legislative, regulatory risks growing
Nov 7, 2009 Make Money Online
Bank of America Corp (BAC.N) said on Friday that mounting legislative and regulatory pressure may hurt its business, a rare move for a large public company that signals how the changing landscape for banks worries management.
In Bank of America’s third quarter report filed on Friday, the company listed legislative and regulatory pressures as a new risk factor that investors should be aware of.
The bank faces particular regulatory pressure because it has received two bailouts from the United States, totaling $45 billion, while most banks have only received one. Read the rest of this entry »
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