Congressman latest to ask Bank of America for more details about its purchase of Merrill LynchSeptember 21st, 2009 Rep. Towns asks BofA for details on Merrill dealNEW YORK — Bank of America Corp. was facing a deadline Monday to turn over additional information about its acquisition of Merrill Lynch, this time to a Congressional committee.
Report: FBI, Justice Department also investigating Bank of America's Merrill Lynch dealSeptember 18th, 2009 Report: FBI, DOJ investigating BofA's Merrill dealCHARLOTTE, N.C. — The FBI and Department of Justice are conducting a criminal probe into Bank of America Corp.'s purchase of Merrill Lynch last year, the Charlotte Observer reported Friday.
Bank of America asked to provide NY attorney general with further details on Merrill dealSeptember 8th, 2009 NY AG asks BofA for more details on Merrill dealNEW YORK — Bank of America Corp. and the New York Attorney General's office are sparring again over the bank's acquisition of Merrill Lynch & Co.
Bank of America pays $33 million SEC penalty for misleading investors about Merrill bonusesAugust 3rd, 2009 BofA agrees to $33M SEC fine over Merrill bonusesWASHINGTON — Bank of America Corp. has agreed to pay a $33 million penalty to settle government charges that it misled investors about Merrill Lynch's plans to pay bonuses to its executives, regulators said Monday.
Bank of America pays $33-mn fine for misleading bonusesAugust 3rd, 2009 WASHINGTON - The Bank of America agreed to pay US regulators a $33-million fine for misleading its investors about billions of dollars in bonuses paid to Merrill Lynch executives when it acquired the investment bank. While seeking stockholder approval of the deal to acquire Merrill Lynch, the Bank of America said that Merrill would not pay year-end bonuses to its executives, the Securities and Exchange Commission said.
Bank of America pays $33 million penalty to settle SEC charges that it misled investorsAugust 3rd, 2009 BofA pays $33M SEC fine for misleading investorsWASHINGTON — Bank of America has agreed to pay a $33 million penalty to settle government charges that it misled investors about Merrill Lynch's plans to pay bonuses to its employees. In seeking approval to buy Merrill, Bank of America told its shareholders that Merrill agreed not to pay year-end bonuses without Bank of America's consent.
Former Treasury Secretary Paulson defends his response to finance crisis, Bank of America dealJuly 15th, 2009 Paulson defends work as treasury secretaryWASHINGTON — Former Treasury Secretary Henry Paulson has said in written testimony that the Bush administration's response to the financial crisis late last year was "not perfect" but "saved this nation from great peril."
Paulson also defended his role in Bank of America Corp.'s decision to acquire Merrill Lynch, despite Merrill's troubled financial state. Paulson said the merger was in the best interest of the nation and the two firms and that remarks he made during discussions of the deal were "appropriate."
Some House lawmakers have accused Paulson and Federal Reserve Chairman Ben Bernanke of pressuring Bank of America officials to proceed with the merger despite mounting losses at Merrill Lynch that ultimately hurt Bank of America stockholders.
Paulson to testify July 16 before House panel probing Bank of America's acquisition of MerrillJune 29th, 2009 Paulson to testify July 16 about BofA-Merrill dealWASHINGTON — Former Treasury Secretary Henry Paulson will testify next month before a House committee that's investigating whether he and other government officials pressured Bank of America Corp. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion.
Fed chairman Bernanke faces House committee over Bank of America-Merrill Lynch dealJune 25th, 2009 Fed chairman Bernanke faces House committee todayWASHINGTON — Federal Reserve Chairman Ben Bernanke likely will face hostile questions from a House committee investigating whether he and other government officials pressured Bank of America Corp. into a "shotgun wedding" with Merrill Lynch that cost taxpayers $20 billion.
Bernanke to face hostile questioning by lawmakers on Bank of America, Merrill Lynch dealJune 25th, 2009 Bernanke to face hostile questioning on BofA dealWASHINGTON — Federal Reserve Chairman Ben Bernanke likely will face hostile questions from a House committee investigating whether he and other government officials pressured Bank of America Corp. into a "shotgun wedding" with Merrill Lynch that cost taxpayers $20 billion.
House subpoenas documents that could shed new light on Fed's role in Bank of America mergerJune 19th, 2009 House targets Fed in Bank of America investigationWASHINGTON — A House panel has subpoenaed documents that lawmakers say could shed new light on Federal Reserve Chairman Ben Bernanke's role in Bank of America's acquisition of Merrill Lynch. The subpoena comes ahead of a hearing next week in which Bernanke is scheduled to testify.
Bank of America CEO says gov't pressured him to buy Merrill Lynch despite concerns about dealJune 11th, 2009 CEO: Government pushed bank to buy Merrill LynchWASHINGTON — House lawmakers on Thursday accused federal regulators of a gross misuse of power in orchestrating a "shotgun wedding" between Bank of America Corp. and Merrill Lynch & Co.
Congressional investigators say documents prove the Fed threatened to oust bank CEOJune 11th, 2009 Investigators say Fed threatened bank CEOWASHINGTON — The Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn't follow through with plans to buy Merrill Lynch & Co., Republicans said Wednesday after reviewing internal documents. Republicans also said there was evidence that the government tried to restrict information related to the merger from being publicly released.
House chairman: Fed e-mails raise questions about merits of $20B Bank of America bailoutJune 11th, 2009 House chairman questions Bank of America bailoutWASHINGTON — The top Democrat on a House investigative committee says internal e-mails by Federal Reserve employees raise serious questions about $20 billion in government aid provided to Bank of America to buy Merrill Lynch. Rep. Edolphus Towns of New York calls the money a "dowry for a shotgun wedding." The chairman of the House Oversight and Investigative Reform Committee said Thursday that questions remain about what happened exactly and "who was holding the shotgun."
The panel is investigating claims that top government officials, including then-Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, urged Bank of America to go through with the acquisition and not to disclose to shareholders the details of Merrill Lynch's deteriorating financial state.
Congress subpoenas Fed over Bank of America acquisition of Merrill LynchJune 9th, 2009 Congress subpoenas the Fed over BOA-Merrill LynchWASHINGTON — House lawmakers on Tuesday said they have subpoenaed the Federal Reserve to hand over e-mails, notes and other documents related to its role in Bank of America Corp.'s acquisition of Merrill Lynch & Co. The lawmakers' subpoena comes after claims that top government officials pressured Bank of America Corp.
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