Federal Reserve terminates 2015 foreign exchange enforcement motion from Financial institution of America – Yahoo Finance
WASHINGTON, Dec 3 (Reuters) – The U.S. Federal Reserve introduced Wednesday it had terminated a 2015 enforcement motion from Financial institution of America around its shortcomings in blocking traders from manipulating foreign trade rates.
The financial institution had agreed in Could of that 12 months to fork out a $205 million wonderful and overhaul applicable procedures after regulators billed various significant banking institutions with oversight shortcomings in foreign trade markets. Alongside the wonderful, the financial institution had agreed to post plans to improve its operations and further Fed oversight. (Reporting by Pete Schroeder Modifying by Chizu Nomiyama)
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