Bank of America wrongly classified transactions
Bank of America Corp said it wrongly classified as much as $10.7 billion of short-term repurchase and lending transactions as sales from 2007 to 2009 to reduce its end-of-quarter assets.
THE days of secret bank accounts are numbered for Americans after UBS and the US and Swiss Governments agreed to settle a dispute over whether the Swiss bank should be forced to disclose the names of 52,000 rich US clients suspected of tax evasion.