Wednesday, September 16, 2009

Cuomo Subpoenas BofA Board

The Merrill Bonus issue at Bank of America is not going away. InvestmentNews is reporting that the New York Attorney General's office subpoenaed five members of BofA's board of directors as part of an investigation into the bank's acquisition of Merrill Lynch & Co.

According to the article, the board members are expected to be questioned about what they knew regarding the mounting losses and bonus payments at Merrill ahead of the deal's completion on Jan. 1. More>>>

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