Judge sends SEC, Bank of America to trial

The World

As President Obama spoke on Wall Street about the urgent need for tighter financial regulation, a federal judge issued a scathing ruling about how poorly regulators have been doing their job. The judge rejected a $33 million settlement between the SEC and Bank of America, saying the SEC’s accusations of inadequate disclosure by the bank over bonuses paid at Merrill Lynch must now go to trial. We talk to Louise Story, Wall Street and finance reporter for our partner, the New York Times.

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