BofA nearing D.C.’s deadline to raise capital
Expect Bank of America Corp. to sell more of its assets to meet a government order to raise capital. And soon. With less than two weeks remaining, BofA still hasn’t met a government deadline to raise $3 billion in equity by selling pieces of the $2.3 trillion company. The Charlotte-based bank is required to raise the additional equity as part of its repayment of a $45 billion taxpayer bailout.