A U.S. House lawmaker is insisting that Bank of America turn over new documents to investigators about its decision to not publicly disclose ballooning losses at Merrill Lynch & Co. ahead of a shareholder vote last December. Rep. Edolphus Towns (D., N.Y.), who chairs the House Committee on Oversight and Government Reform, has asked Bank of America Chief Executive Kenneth Lewis for a range of documents detailing the deal for Merrill Lynch, said the Wall Street Journal. The documents requested include emails and documents dealing with losses and loss projections at Merrill Lynch; records covering negotiations with the federal government on bailout funds received by the bank; and the details of any legal advice received by the bank on disclosure of the losses or government aid. Towns set a deadline of noon EDT on Aug. 14 for Bank of America to turn over the documents.
NY Congressman Demands Documents on BofA’s Merrill Deal
Investigation into lack of disclosure on Merrill loses continues
August 7, 2009