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Business Briefing / Banking

BofA pressed on Merrill bonuses

March 10, 2009|Times Wire Reports

New York's attorney general and a key congressman are demanding that the chief executive of Bank of America Corp. immediately disclose details about individual bonuses paid to Merrill Lynch & Co. employees in December.

The Charlotte, N.C., bank acquired Merrill on Jan. 1.

The letter from Atty. Gen. Andrew Cuomo and Rep. Barney Frank (D-Mass.) to Bank of America CEO Ken Lewis comes as Cuomo's office and the bank fight about whether details of individual bonuses should be made public.

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