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Bank Of America Under Feds' Scope

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Bank of America's purchase of Merrill Lynch is reportedly under criminal investigation by federal authorities.

The probe is being conducted by the Department of Justice and the FBI and has been underway for six months, according to a report Friday by the Charlotte Observer; BofA's headquarters is in Charlotte.

A BofA spokesman declined to confirm the report. He told Reuters the bank has provided thousands of documents to various government agencies and added that there was "no basis for charges against the company or individuals on the management team."

Read more:

http://www.nydailynews.com/money/2009/09/1...l#ixzz0RXoRGPWn

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