Bank Of America Merrill Investigation Goes Criminal!

FBI badge and gun DOJ law enforcement agent

As if the SEC and various state attorneys general weren’t causing enough of a headache at Bank of America (BAC), the FBI and DOJ are on the case too.

Charlotte Observer: The FBI in Charlotte and the U.S. Justice Department are among the multitude of agencies investigating Bank of America Corp.’s acquisition of Merrill Lynch & Co., a knowledgeable source told the Observer.

The criminal investigation has been underway for about six months, the source said. The probe means an additional layer of scrutiny for the Charlotte-based bank, which bought Merrill on Jan. 1.

Read the whole thing >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.