BoA does deal with DoJ over muni bonds

Bank of America has signed a "leniency agreement" with the US Department of Justice, in return for the bank's co-operation with the department's investigation into municipal derivatives.

The deal, which protects the bank from criminal antitrust prosecution, was contingent on BoA providing the department with information about bidding practices in municipal derivatives last year.

The DoJ has probed other US firms regarding municipal bond practices, following concerns over illegal activity

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