BoA (NYSE:BAC) is reportedly operating under a secret memorandum of understanding, imposed by...

Jul. 16, 2009 7:29 AM ETBank of America Corporation (BAC)BACBy: Rachael Granby, SA News Editor

BoA (NYSE:BAC) is reportedly operating under a secret memorandum of understanding, imposed by regulators in May, requiring it to address certain risk and liquidity problems. Coming up against some July/Aug. deadlines, BoA may get an extension on certain tasks, such as overhauling its board.

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