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Traders work at the post that handles Bank of America on the floor of the New York Stock Exchange, Monday, April 28, 2014. Bank of America sank 5 percent, to $15.14 after the bank unexpectedly announced it would suspend its stock buyback program and its plan to raise its quarterly dividend. The bank said it discovered an error in how the bank calculates its capital ratio, a crucial measure of a bank's strength.
Traders work at the post that handles Bank of America on the floor of the New York Stock Exchange, Monday, April 28, 2014. Bank of America sank 5 percent, to $15.14 after the bank unexpectedly announced it would suspend its stock buyback program and its plan to raise its quarterly dividend. The bank said it discovered an error in how the bank calculates its capital ratio, a crucial measure of a bank's strength.
(Richard Drew/AP)

BofA’s regulatory blunder could land it in investor purgatory

If you’re nervous about the size and complexity of today’s mega-banks, then the latest news from Bank of America Corp. will leave you even more on edge.

The bank announced Monday that it had overstated its capital ratios for regulatory purposes due to an error in its calculations. The mistake dates back to its acquisition of Merrill Lynch & Co. during the financial crisis.