Bank of America

New York, NY: (Feb-09-07) The Internal Revenue Service filed an antitrust lawsuit against the bank regarding its role in providing guaranteed investment contracts and other agreements related to "blind pool" bond transactions. The bank said that, under the amnesty agreement, it would not face any criminal antitrust prosecution related to matters it reports, so long as it continues to cooperate with the IRS, SEC, and the Justice Department. Though it did not admit liability under the Internal Revenue Code, the bank has agreed to a $14.7 million settlement. [CNN NEWS: BANK ANTITRUST]

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