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  • Bank of America Corp. (NYSE:BAC) to be Fined for Bribery Case

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    Wednesday Dec 8, 2010 at 09:20 am EST
    Bank of America Corp. (BAC) to be Fined for Bribery  
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    In a press release on Tuesday, Bank of America Corp. (NYSE:BAC) reported that it will make a restitution payment of $25 million to the IRS, and through its resolutions with the OCC, SEC, and a Working Group of State Attorneys General, the Bank will make payments of $9.2 million, $36.1 million, and $62.5 million, respectively, to the counterparties affected by the practices.

    Shares of Bank of America Corp. (NYSE:BAC) closed at $11.57 on Tuesday at just below resistance level of $11.81. There is only one major support below at $11.2. Resistance levels above are $11.82, $12.46, $13.29, $13.68, $14.11.
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