Feb 4th, 2010 · New York state filed civil charges against Bank of America and former CEO Ken Lewis, alleging the bank misled investors about Merrill Lynch before it bought the Wall Street bank in early 2009. A spokesman for the bank said the charges lacked merit.
Feb 4th, 2010 · Kenneth D. Lewis, former Bank of America chief executive, was sued Thursday for fraud by New York Attorney General Andrew Cuomo who charged bank officials with knowingly keeping shareholders in the dark about huge losses at Merrill Lynch in order to smooth the way for the bank's acquisition of the large stock broker.
Dec 11th, 2009 · The Securities and Exchange Commission has expanded its probe of Bank of America to include the bank's possible failure to disclose mounting losses at Merrill Lynch, an agency official said. The SEC has been pursuing civil charges that Bank of America failed to disclose bonuses to Merrill employees.
Dec 3rd, 2009 · Bank of America says it plans to repay the government bailout funds it received during the credit crisis and after it purchased Merrill Lynch & Co. The move would allow Bank of America, which is trying to recruit a new CEO, to free itself from government restrictions on executive pay that come along with bailout funds.
Oct 18th, 2009 · Summer Plum owns a small business — a one-woman tea and massage company in Charlotte, N.C. And the last year has been tough for her. She's glad the federal government is talking about dedicating $50 billion for loans to small businesses. She just has one condition: Force the banks to lend the money. She lives in Bank of America's hometown, but experience has taught her that banks aren't too interested in trying to help small-business owners.
Oct 18th, 2009 · Summer Plum owns a small business — a one-woman tea and massage company in Charlotte, N.C. And the last year has been tough for her. She's glad the federal government is talking about dedicating $50 billion for loans to small businesses. She just has one condition: Force the banks to lend the money. She lives in Bank of America's hometown, but experience has taught her that banks aren't too interested in trying to help small-business owners.
Oct 12th, 2009 · Ohio's attorney general is suing Bank of America on behalf of shareholders in some of the state's pension plans. He says the bank misled shareholders during its acquisition of Merrill Lynch, a move that cost the pension plans tens of millions of dollars. Business experts are watching this lawsuit carefully because, if the state wins, it could open the floodgates for other shareholders to file similar litigation.
Oct 5th, 2009 · The credibility of the government's $700 billion financial rescue program was damaged by U.S. officials' claims a year ago that all of the initial banks receiving support were sound, a new report contends. Citigroup and Bank of America soon required billions in additional assistance.