George S. May Business Blog

Bank of America looking to settle the score with Cuomo

The New York Times is reporting that Bank of America is in talks with New York attorney general Andrew Cuomo’s office about settling a probe on bonuses paid to Merrill Lynch executives.

The paper notes that both sides met on Friday to discuss a possible deal. The bank is also hoping to settle claims that it did not completely disclose the risks of a Merrill takeover to its shareholders. No settlement has been made yet, but talks are said to be continuing.

This past Monday, Andrew Cuomo ordered eight major US banks to turn over the data they had on planned bonuses for 2009.

Related posts:

1. Bank of America to hand over legal documents from the Merrill purchase — Andrew Cuomo victorious yet again Well, it is official; Andrew Cuomo gets what he wants. NY Attorney General, Andrew Cuomo has been pressing B of A to to turn over...


2. NY Attorney General Andrew Cuomo subpoenas five Bank of America Directors In a world where high ranking executives, officials, and politicians talk, talk, talk, and rarely walk, you must admit that Andrew Cuomo walks, talks, and...


3. BREAKING NEWS: Bank of America is actually doing something right Over the last half year it seemed that the folks at Bank of America could not make a good decision for the life of them....


4. Bank of America still in shambles — Bank posts $9.6 billion Q3 credit loss Two taxpayer bailouts, equating to $45 billion, later, Bank of America still can not get it together. America’s largest bank, BofA, posted a big third...


5. Goldman Sachs Tries to Settle Suit During the deadly ides of March, Goldman Sachs was accused of defrauding investors with the help of none other than Henry Paulson himself. At first,...