BofA Head of Consumer Banking Brian Moynihan to Testify Before Congress about Merrill Acquisition (BAC)

Fri. November 06, 2009; Posted: 11:56 AM

Nov 06, 2009 (SmarTrend(R) News Watch via COMTEX) -- BAC | Quote | Chart | News | PowerRating -- 11/7/2009 - Brian Moynihan, head of consumer banking at Bank of America (NYSE:BAC), has agreed to testify before the House Oversight Committee on November 17 regarding his role in the acquisition of Merrill Lynch, according to a Bloomberg report that cites people familiar with the matter. Also present will be Timothy Mayopoulos, who was replaced by Moynihan as general counsel last December when the deal almost unraveled. Moynihan is a contender to replace departing CEO Ken Lewis. The committee will be looking at many facets of Moynihan's role in the deal, including legal advice given to Ken Lewis for a a talking-points memo before meeting with Bank of America's board of directors later in December.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Bank Of America Corp (BAC) click here. Bank Of America Corp (BAC) has Short Term PowerRatings of 5. Details on Bank Of America Corp (BAC) Short Term PowerRatings is available at This Link.

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