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Home / NY: AG Issues Subpoena to Bank of America for Bonuses InfoNY: AG Issues Subpoena to Bank of America for Bonuses Info
Last Updated on Thursday, 13 November 2008 10:42 Written by rslcpol Thursday, 13 November 2008 10:42
From Reuters:
New York state’s attorney general, Andrew Cuomo, this week issued a subpoena to Bank of America Corp, asking for details on how it allocates its bonuses, the Wall Street Journal said, citing a person familiar with the matter.In a letter to BofA, Cuomo’s office said the company had responded inadequately to its informal request for information on executive compensation, the paper said.
Two weeks ago Cuomo told BofA and eight other banks receiving government money under the Treasury’s Troubled Asset Relief Program (TARP) that using the funds for bonus payments may be illegal under state law.
This entry was posted on Thursday, November 13th, 2008 at 10:42 am and is filed under Attorney General News.
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