High Noon For Bank of America And The Attorney-Client Privilege

The battle over Bank of America’s assertion of the attorney-client privilege in connection with various government investigations into its acquisition of Merrill Lynch and the payment of bonuses has reached a new level: according to an article in the New York Times today, Congressman Edolphus Towns (D-NY) has stated that B of A is “hiding information” and that it cannot use the privilege with Congress. Representative Towns has given the bank until noon, today, to respond.

See http://www.nytimes.com/2009/09/21/business/21bank.html?_r=1&hp.