US Sen Dodd: Hearings May Be Needed On BofA Lewis's Claims

Apr 27th, 2009 - CNNMoney

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WASHINGTON -(Dow Jones)- Senate Banking Committee Chairman Christopher Dodd,D-Ct., said Monday there may be a need for Congress to investigate allegationsmade by Bank of American Corp. (BOA) Chairman Ken Lewis last week regarding thebank's transaction to acquire Merrill Lynch.

Dodd said that his staff were still looking into the matter, but that it maybe necessary to convene hearings into the matter. Sen. Richard Shelby, R-Ala.,the ranking Republican on the panel, called for hearings last week.

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