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Cuomo, Frank Demand Merrill, BofA Bonus Names
Topics:Politics & Government | Executive Compensation | Banking
Sectors:Financial Services | Banks
Companies:Bank of America Corp
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New York state's top legal officer and U.S. Rep. Barney Frank on Monday demanded Bank of America [BAC
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] provide information on all individuals who received more than $1 million in bonuses from the bank and Merrill Lynch in 2008.
Video: CNBC's Scott Cohn discusses NY Attorney General Cuomo's and Rep. Barney Frank's demand for Bank of America/Merrill bonus info.
"We believe that as a matter of transparency and disclosure, taxpayers have a right to know where their tax dollars go once received by TARP (Troubled Asset Relief Program) recipients," said the letter by Attorney General Andrew Cuomo and Frank to Bank of America's Chief Executive Kenneth Lewis.
Copyright 2009 Reuters. Click for restrictions.
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