Federal Reserve terminates 2015 forex enforcement action against Bank of America

WASHINGTON (Reuters) – The U.S. Federal Reserve announced Wednesday it had terminated a 2015 enforcement action against Bank of America (N:) over its shortcomings in preventing traders from manipulating foreign exchange rates.

The bank had agreed in May of that year to pay a $205 million fine and overhaul relevant policies after regulators charged several large banks with oversight shortcomings in foreign exchange markets. Alongside the fine, the bank had agreed to submit plans to improve its operations and additional Fed oversight.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.