FBI, DOJ Reportedly Probing BofA's Merrill Purchase

Law360, New York (September 18, 2009, 4:52 PM EDT) -- The U.S. Department of Justice and the FBI in Charlotte, N.C., are reportedly conducting an investigation of Bank of America Corp.'s acquisition of Merrill Lynch Co., making them latest federal agencies to question the details of the Jan. 1 takeover.

The joint probe into the Charlotte-based bank's purchase of struggling Merrill has been under way for about six months, but the scope and the possible outcome of the investigation remain unclear, the Charlotte Observer reported Friday, citing a “knowledgeable source.”

DOJ spokesman Ian McCaleb and FBI...
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