Fed says it does not object to Bank of America's resubmitted capital distribution plan

WASHINGTON (MarketWatch) -- The Federal Reserve on Thursday announced that it has not objected to Bank of America's resubmitted capital distribution plan. In March, the Fed had asked Bank of America to submit a revised strategy by the end of September. In a statement, the U.S. central bank said the bank has made progress in fixing identified deficiencies in its capital planning processes.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.