BofA doesn't get full approval from stress tests

Bank Of America Building

The 'stress' is far from over for Brian Moynihan.

The New York Post reports that Bank of America was the only major US bank not to get full approval for its capital plans on Wednesday after Janet Yellen’s Federal Reserve said the lender has to resubmit plans for its 'stress tests'.

The results put BofA in limbo between the 28 banks that the Fed said would have been healthy during a severe downturn and two foreign banks that would have failed.

One of the Fed’s issues with Moynihan’s bank is how BofA projects it would lose revenue during a crisis, according to the results.

To access the complete New York Post article hit the link below:

Bank of America’s ‘stress test’ comes back ‘incomplete’

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