Too Failed to Be Big? Public Citizen Petitions Federal Regulators to Break Up Bank of America
Too failed to be big? Today, Public Citizen will send a formal petition to the Federal Reserve Board of Governors and the Financial Stability Oversight Council to break up Bank of America. The petition asks them to "recognize that the Bank of America Corporation . . . poses a 'grave threat' to the stability of the United States financial system and to mitigate that threat, as provided by section 121 of the Dodd-Frank Wall Street Reform and Consumer Protection Act."