On Monday, the country's federal regulators moved forward to expand charges against the Bank of America for allegedly providing false information to investors during the 2008 global financial crisis, but it was once again decided that there would be no charges against the executives or lawyers who had signed off on the firm's actions.

Initially, the Securities and Exchange Commission has accused that the bank had concealed from investors its plans of paying billions of dollars in bonuses to employees at the Merrill Lynch, before the shareholders were asked to approve of a merger between BOA and the company.

The SEC is now stressing that the bank had also voluntarily withheld information about the mounting losses that Merrill was suffering, and these latest charges have come after a judge refused a $33 Million settlement between the SEC and BOA last Fall, as the agency had failed to hold any executive or lawyers accountable, who were responsible for important omissions in the document that was sent to the shareholders ahead of the voting that had approved the acquisition.

On its end, Bank of America has said that it feels "vindicated" because no executive or lawyers are being charges, and also stressed that SEC's latest claims are "meritless".