Bank of America Seeks Clarity on Stress Test Results from Fed
Bank of America has initiated discussions with the Federal Reserve to seek clarification on the discrepancies between the central bank's stress test results and the bank's own analysis under the Dodd-Frank Act. While major lenders, including Bank of America, were deemed to have sufficient capital to withstand an economic downturn, the bank wants to understand the differences in the "other comprehensive income" category during the measured period. Unlike its rivals, Bank of America has not made any announcements regarding dividends or share repurchases since the stress test results were released.