Kirk A. Simmons, 59, entered the guilty plea at a court hearing Tuesday. He faces a maximum sentence of life in prison when he is sentenced on June 24.
In return for the guilty plea, prosecutors agreed to dismiss a charge of attempted production of child pornography.
Simmons was arrested in July 2013 outside a Newark hotel where he had arranged with an undercover detective to have sex with the fictitious girl.
He was subsequently fired from his job as a Bank of America vice president.
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