Bank of America CEO Ken Lewis won't resign if he is slapped with civil charges from New York Attorney General Andrew Cuomo, but he's likely to leave if he is charged by the Securities and Exchange Commission, sources inside the Bank have told CNBC.
Lewis has been accused of misleading investors about the payment of more than $3 billion in bonuses through the bank's acquisition of Merrill Lynch.
Although BofA has already paid $33 million to settle the charges with the SEC, the agency has reopened its investigation against the bank.
Because of the intense scrutiny under which Lewis has been watched by the SEC, Cuomo and Congress, many have wondered whether the CEO will be able to survive the investigations and remain at Bank of America.
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