Bloomberg -- Bank of America agreed to pay $7.65 million to settle U.S. regulatory claims that it overstated its capital by billions of dollars after failing to report losses tied to its 2009 purchase of Merrill Lynch & Co.
Bank of America misreported its capital from 2009 to 2013 because it didnt realize losses on a portfolio of structured notes and other financial products it acquired in its purchase of Merrill Lynch, the SEC said in a statement today.
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