BofA Consents to `Global Settlement’ Worth $137 Million in Manipulation Case

Bank of America Corp. and its affiliates have agreed to pay more than $137 million to federal and state civil and regulatory authorities after they charged the financial services giant with conspiring to manipulate bids in the municipal bonds derivatives market.

The Justice Department said Dec. 7 that Bank of America entered into agreements with the Securities and Exchange Commission, 20 state attorneys general, the Internal Revenue Service, and the Office of the Comptroller of Currency as part of a “global settlement.” It also entered into a written agreement with the Federal Reserve Board to “address certain remedial measures.”

‘Deceptive ...