Banking

September 30, 2009

Raft of investigations plagues BofA

Bank of America and CEO Ken Lewis face a raft of investigations and other headaches from regulators and lawmakers. Most stem from the bank's purchase on Jan. 1 of struggling investment firm Merrill Lynch. The bank, which needed shareholder approval for the deal, is accused of failing to properly inform shareholders about losses at Merrill and bonuses paid to its employees. Some are also examining the government's involvement in the deal.

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