SEC Brings New Charges Against Bank of America

Filed under: Bank of America (BAC)

The Securities & Exchange Commission filed new charges against Bank of America (BAC) today, accusing the company of hiding "staggering financial losses" at Merrill Lynch prior to the consummation of the merger between the two companies.

The Associated Press has details, but there are a few interesting things about this latest development:

• Current Bank of America CEO Brian Moynihan was the general counsel of Bank of America at the time of the alleged disclosure improprieties. Just saying.

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SEC Brings New Charges Against Bank of America originally appeared on BloggingStocks on Tue, 12 Jan 2010 17:30:00 EST. Please see our terms for use of feeds.

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