House to call on BofA’s Lewis to testify
Bank of America chief executive Ken Lewis on top federal officials will be asked by a Congressional panel to testify next month about his claims that the U.S. Treasury and Federal Reserve pressured him to close deal to acquire Merrill Lynch, a person familiar with the investigation told the Wall Street Journal.
The person said a review of documents, notes from phone conversations involving Federal Reserve officials and other information suggests “there’s fire there.” The report states.
Previously Lewis testified to the New York Attorney General’s office that Federal Reserve chief Ben Bernanke and former Treasury Secretary Henry Paulson pressured him to complete the deal. He also said the agencies asked him to remain silent on issues relating to Merrill Lynch finances, the report stated.
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