Bank of America, Citigroup Told to Boost Capital as Validity of Bank Stress Tests Is Called Into Question
May 1st, 2009 | By Jason Simpkins | Category: FeaturedBank of America Corp. (BAC) and Citigroup Inc. (C) were told by federal regulators to raise more capital after government “stress tests” revealed that the banks were not adequately protected against additional deterioration in the economy, published reports said yesterday.