Bank of America Admits Hiding Debt

Bank of America admitted to making six transactions that incorrectly hid from view billions of dollars of debt, following a bid to cut the size of a unit's balance sheet and meet internal financial targets.

The disclosure, made in a letter to the SEC, comes as the agency prepares to unveil the results of an inquiry into banks' accounting for borrowing deals known as repurchase agreements, or "repos."

More details of Bank of America's creative accounting may be found in the Wall Street Journal.

This is simply one of many reasons why this bank is number two on the list of LEAST Trustworthy Companies In America.