Bank of America

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Bank of America settles SEC complaint over Merrill bonuses for $33 million

Bank of America said it would pay $33 million to settle an SEC complaint that it misled shareholders regarding $5.8 billion in bonuses paid to Merrill employees.
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Why Should Servicers Get A Safe Harbor? How One Investor’s Lawsuit Forced Bank of America to Seek Shelter in Washington

In May, President Obama signed into law the Helping Families Save Their Homes Act, a bill aimed at keeping troubled borrowers in their homes. But the bill carried with it powerful protections for influential mortgage lenders -companies whose irresponsible lending helped fuel the subprime mortgage meltdown.

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SEC reviewing BofA disclosure on Merrill Lynch bonuses

The Securities and Exchange Commission is reviewing whether Bank of America possibly violated securities laws by not disclosing that it intended to pay $3.6 billion in bonuses to Merrill Lynch employees.