BoA does deal with Justice Department over municipal 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 any criminal antitrust prosecution, was contingent on BoA providing the department with information about bidding practices in municipal derivatives last year.

The department has probed other New York firms for information on municipal bond practices, following concerns over

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