(Reuters) - U.S. regulators have informed Bank of America's (BAC.N) board that the company could face public enforcement action if they are not satisfied with recent steps taken to strengthen the bank, the Wall Street Journal said, citing people familiar with the situation.
BofA has been operating under a memorandum of understanding since May 2009. The memorandum, which is not public, identified governance, risk and liquidity management as problems that had to be fixed, the paper said, citing people familiar with the document.
In recent months, regulators met with BofA's board and said
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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