Bank of America funded the repayment through a combination of cash on hand and the sale of $19.29 billion of securities that would convert into common stock. The stock increase is subject to shareholder approval. Repayment frees the bank from government restrictions that have hampered its search for a new CEO, including pay limitations.
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Full story at http://www.npr.org/templates/story/story.php?storyId=121262323&ft=1&f=1006





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