BofA under secret regulatory sanction

b-of-a-signBailed out Bank of American reportedly is under a secret regulatory sanction — a memorandum of understanding — to overhaul its board and address risk and liquidity problems.  Six of its 16 directors have resigned since the sanction was imposed.  School of Management Professor James Post, an authority on corporate governance, says BofA should have made the moves before regulators forced them.

Contact James Post, 617-353-4162, jepost@bu.edu

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