Federal Reserve green lights resubmitted BofA capital plan

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (NYSE:BAC) was forced to resubmit its capital plan after finding an error in its capital calculations. The accepted plan calls for a boost in the dividend to $0.05 per share from $0.01, but the bank has dropped the proposal for $4B in share buybacks.

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