9/22/2009

Bank of America let pass a deadline for information demanded by the House Committee on Oversight and Government Reform about the purchase of Merrill Lynch last year, which was followed shortly by BofA's request for $20 billion in government aid. Committee Chairman Edolphus Towns said in a statement that he was considering issuing a subpoena, but that first he would meet today with BofA's chief strategy and marketing officer, Anne Finucane. Towns insisted that the committee must have the information. "I am deeply troubled by Bank of America's refusal to give this committee the records it needs to rightfully determine how and why a private deal became a public bailout," Towns said in his statement.

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