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Congress asks two BofA directors to testify: source
WASHINGTON |
WASHINGTON (Reuters) - The U.S. Congress has asked two Bank of America directors to testify on the bank's acquisition of Merrill Lynch and ensuing fallout, a source familiar with the matter said on Friday.
The House Oversight and Government Reform Committee has asked Charles Gifford and Thomas May to appear before Congress on Thursday, the source said.
The request comes just days after the bank decided to waive its legal privileges protecting names of those who made decisions on the Merrill merger.
The committee has also asked Securities and Exchange Commission Chairman Mary Schapiro, Federal Deposit Insurance Corp Chairman Sheila Bair and former SEC head Christopher Cox to testify. Neil Barofsky, the watchdog for the Troubled Asset Relief Program, has also been called on to testify, as has Timothy Mayopoulos, Bank of America's former general counsel, the source said.
(Reporting by Rachelle Younglai)
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