New SEC-Bank of America settlement proposal faulted

Business — By L.A. Times - Business on February 9, 2010 at 10:00 am

The federal judge who rejected the first proposal complains that the latest plan, which includes a $150-million payment, does not punish individuals.

A federal judge who rejected the government's first bid to settle civil charges against Bank of America Corp. showed little enthusiasm Monday for a new proposed settlement.