more-questions-about-merrill-merger

More questions about Merrill merger

Decision-makers at Bank of America were influenced by regulators to let the merger proceed with the resultant impact on BoA seemingly not a key consideration.

New information about Bank of America's decision to progress with the Merrill Lynch acquisition raises further questions about whether the best interests of BoA's stakeholders were considered and about the role played by regulators.

The findings raise questions about the transparency of Tarp Troubled Asset Relief Program as well as about corporate governance and disclosure practices at BoA, said Andrew Cuomo, attorney general of New York, in a letter on April 23. Cuomo's investigation into the Bank of America merger with Merrill Lynch initially focused on fourth-quarter bonus payments at Merrill.

Cuomo's letter is addressed to Christopher Dodd, the chairman of the Senate committee on banking Mary Schapiro, chairperson of the Securities...

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