House Oversight and Government Reform Committee Subpoenas Federal Reserve for BofA-Merrill Lynch Documents

Towns, Issa, Kucinich Demand Documents for Hearing This Week

WASHINGTON D.C. – House Oversight and Government Reform Committee Chairman Edolphus Towns (D-NY) and Ranking Member Darrell Issa (R-CA) today agreed to have a subpoena served on the Federal Reserve (the Fed) to compel it to turn over documents related to Bank of America’s acquisition of Merrill Lynch.

The full committee and Domestic Policy Subcommittee, under the leadership of Chairman Dennis Kucinich (D-OH), have been investigating the circumstances surrounding the federal government’s bailout of the Bank of America-Merrill Lynch transaction. Specific documents subpoenaed include emails, notes of conversations and other documents.