Bank of America (BAC) will no longer have to comply with a Federal Reserve enforcement action initiated in 2010, according to a Fed announcement Thursday, Reuters reported.

The Fed required Bank of America to submit quarterly progress reports detailing competitively bid transactions after the bank admitted to bid-rigging in the municipal debt market.

The 2010 decision was part of a larger deal Bank of America struck with the federal government that also required the bank to pay $137.3 million in restitution.

Bank of America shares closed down less than a percent to $23.54.

What's Hot on TheStreet

Mining stocks get whipped: Global mining stocks found themselves in a hole Thursday TheStreet reports, after South Africa's government said that at least 30% of domestic mining assets should be black-owned even if previous black owners sell their stakes. South African-exposed mining companies fell sharply in the wake of the announcement. London-listed Anglo American plc (AAUKF) tumbled 4.4% to 1,013 pence ($23.87) a share, South32 Ltd fell 4% to 158 pence, BHP Billiton plc (BHP) was down 2% to 1,155 pence, Rio Tinto (RIO) fell 2% to 3,079 pence and Glencore plc (GLNCY) fell 2.6% to 279.2 pence. South African gold producers were hit even harder. Sibanye Gold Ltd. (SBGLF) plummeted 6.7% to 1,562 South African rand ($121.38) and AngloGold Ashanti Ltd. (AU) fell 4.8% to 14,015 rand.

Amazon eyes a new prize: Amazon may be preparing a deal to buy Slack Technologies in a deal that could value the messaging startup group at more than $9 billion, TheStreet points out. With Microsoft's deal for LinkedIn being well-received, this deal seems logical for an Amazon that is aggressively expanding into the cloud.

One has to wonder though: why isn't Apple considering Slack or for that matter, Twitter . Each service would provide valuable insight into human behavior from which to build new products and services.

More from Stocks

Nucor Shares Retreat Despite Nearly Doubling Q2 Earnings

Nucor Shares Retreat Despite Nearly Doubling Q2 Earnings

Microsoft Climbs After-Hours on Earnings Beat; Guidance to Be Announced on Call

Microsoft Climbs After-Hours on Earnings Beat; Guidance to Be Announced on Call

Dow Falls, Breaking 5-Day Winning Streak on Beige Book Trade-War Worries

Dow Falls, Breaking 5-Day Winning Streak on Beige Book Trade-War Worries

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

Nucor Retains Buy Recommendation From TheStreet Ratings

Nucor Retains Buy Recommendation From TheStreet Ratings