BofA agrees to give SEC more details on Merrill

Bank of America Corp agreed to give regulators more information about why it refrained from disclosing details about Merrill Lynch's performance before it bought the investment bank, federal regulators said on Tuesday. The agreement, still subject to court approval, would allow the US Securities and Exchange Commission to look at details on the bank's failure to disclose information to shareholders about Merrill's $15.8 billion fourth-quarter losses and bonuses paid to Merrill employees.
The bank faces an array of lawsuits and investigations by lawmakers and regulators. New York Attorney General Andrew Cuomo has threatened to sue bank officers and is seeking more information on who knew what prior to the December 5 shareholder vote to approve the merger.