Friday, October 29, 2010

Bank of America reportedly pushed risky products on customers, NY Post says

  In the midst of the financial meltdown, a former Bank of America (BAC)
employee claims the firm "aggressively" pushed complex derivatives products on
customers without warning them of the risks associated with them. In a letter to
SEC chief Mary Schapiro, the former employee claims the bank told investors the
products were "extremely conservative," the New York Post reports. [Reference

No comments:

Post a Comment