Financial Regulatory Forum

New York charges Bank of America, ex-CEO with fraud; SEC settles

February 5, 2010

By Jonathan Stempel and Joe Rauch

NEW YORK/ORLANDO, Fla., Feb 4 (Reuters) – New York’s attorney general charged Bank of America Corp former Chief Executive Kenneth Lewis and former Chief Financial Officer Joe Price with fraud for allegedly misleading shareholders about the acquisition of Merrill Lynch & Co.

U.S. pay czar emphasizes wide “clawback” power

October 23, 2009

By Karey Wutkowski
WASHINGTON, Oct 23 (Reuters) – U.S. pay czar Kenneth Feinberg emphasized on Friday his ability to claw back pay at any company receiving a taxpayer bailout, but said such an extreme action “will be rare and far between.”

Bank of America’s Ken Lewis to receive no pay for 2009

October 16, 2009

Bank of America CEO Kenneth Lewis pauses as he speaks at the National Urban League Conference in Chicago July 30, 2009. (file photo) REUTERS/John Gress By Joe Rauch

CHARLOTTE, Oct 15 (Reuters) – Bank of America Corp (BAC.N) Chief Executive Kenneth Lewis will receive no pay or benefits for his last year of work at the company.

NEWSMAKER-Bank of America CEO Lewis: Fallen hero

October 1, 2009

Bank of America's Ken Lewis joins TARP recipient financial institution leaders before they testify before House Financial Services Committee on Capitol Hill in Washington, in this  February 11, 2009 file photo. Bank of America Corp shareholders voted to oust Lewis as chairman of the board on April 29, 2009 after months of mounting criticism of his stewardship of the largest U.S. bank. REUTERS/Larry Downing/Files (UNITED STATES BUSINESS POLITICS HEADSHOT IMAGES OF THE DAY)   By Jonathan Stempel
   NEW YORK, Sept 30 (Reuters) – A little over a year ago, Bank of America Corp <BAC.N> Chief Executive Kenneth Lewis was a hero on Wall Street with his audacious purchase — some would say rescue from certain collapse — of Merrill Lynch & Co, following less than two days of talks. (more…)

NY’s Cuomo may charge Bank of America executives over Merrill

September 8, 2009

New York State Attorney General Andrew Cuomo answers questions during a news conference held on Wall Street in New York October 15, 2008. NEW YORK, Sept 8 (Reuters) – New York Attorney General Andrew Cuomo threatened on Tuesday to file charges accusing top Bank of America Corp  executives of failing to disclose essential details about its takeover of Merrill Lynch & Co.

Bank of America to pay $33 million to settle charges over Merrill bonuses

August 3, 2009

Bank of America CEO Ken Lewis By Grant McCool
NEW YORK, Aug 3 (Reuters) – Bank of America Corp has agreed to pay $33 million to settle charges by the U.S. Securities and Exchange Commission that it made false and misleading statements to investors about bonuses when it took over Merrill Lynch & Co. (more…)