Rep. Towns asks BofA for documents on Merrill deal

08/7/2009 | Wall Street Journal, The

Rep. Edolphus Towns, D-N.Y., chairman of the House Committee on Oversight and Government Reform, has demanded that Bank of America hand over documents pertaining to the bank's decision against disclosing escalating losses at its takeover target, Merrill Lynch. Bank of America is facing heavy scrutiny for not publicly disclosing what executives knew before shareholders voted on the acquisition.

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