Further Trouble For BAC

September 22, 2009

Bank of America (BAC) continues to be in the hot seat today, after the Securities and Exchange Commission said yesterday it will pursue charges related to bonuses paid after its acquisition of Merrill Lynch last year, and the bank missed deadlines to provide information to a congressional committee. The SEC said it will vigorously pursue the question of whether Bank of America misled shareholders about how bonuses would be paid to Merrill Lynch execs after the acquisition.