Bank of America's trading practices have been probed, filing shows

[Eugene]

Source: Reuters

Exclusive: Bank of America's trading practices have been probed, filing shows

BY KAREN BRETTELL AND ARUNA VISWANATHA
NEW YORK/WASHINGTON Sat Jan 25, 2014 9:14am EST

(Reuters) - The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America (BAC.N) engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing.

The June 2013 disclosure, which Reuters recently reviewed on a website run by the securities industry regulator FINRA, sheds light on the basis for a warning by the Federal Bureau of Investigation on January 8.

The warning, in the form of an intelligence bulletin to regulators and security officers at financial services firms, said that the FBI suspected swaps traders at an unnamed U.S. bank and an unnamed Canadian bank may have been involved in market manipulation and front running of orders from U.S. government-owned mortgage giants Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).

Reuters has since learned that Bank of America's trading practices regarding Fannie and Freddie are the subject of probes, and that the investigations are ongoing.

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Read more: http://www.reuters.com/article/2014/01/25/us-bankofamerica-probe-idUSBREA0O0DC20140125

[freshwest]

1. 'Still waters run deep.' Holder is a painstaking man and it's why the cons hate him.

Last edited Sun Jan 26, 2014, 03:43 PM - Edit history (1)

'Fast and furious' flames quick but they know the wrath of a patient man is something to be feared. Part of his family stood quietly under public hatred and abuse and won the right to an education by the schools in Little Rock.

Although I don't even see it as wrath, I know they do with their guilty consciences and bloody hands. He is part of history, just like Obama.

They have been quietly detailing all they can find about how the wealth of the American poeple has been stolen. Every so often we hear a report like this and it's why the RW hates him and will do anything to get rid of him.

They've smeared him since he was appointed to his post to anyone who will buy it to take the focus off them. It's not going to work, though.