Bank Of America | featured news

Bowing to increasing scrutiny of his compensation, Bank of America’s embattled chief executive, Kenneth D. Lewis, agreed not to take a salary or bonus for 2009.

Bank of America trails other banks in refinancing mortgages ahead of government deadline.

The embattled chief executive, under pressure over the disclosure of losses and bonuses at Merrill Lynch, told the board on Wednesday that he planned to retire, people briefed on the situation said.

Investors in a class-action lawsuit against Bank of America over the Merrill Lynch takeover are trying to collect "billions ...

Bank of America Corp failed to meet a Monday midday deadline to hand over further details about its acquisition of Merrill Lynch to a congressional investigative committee, a panel spokeswoman said.

When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger.

The Securities and Exchange Commission filed charges Monday against Bank of America for misleading investors about billions of dollars in bonuses paid to top executives at Merrill Lynch following its purchase of the brokerage giant.

Former Treasury Secretary Henry Paulson says he was justified last year in suggesting that Bank of America Corp.'s chief executive could lose his job if the bank backed out on plans to buy troubled Merrill Lynch.

BofA is operating under a secret regulatory sanction requiring it to overhaul its board and address other problems or face harsher penalties.

Former Treasury secretary to deny government used pressure in Merrill, Bank of America merger.