Cuomo to grill BoA directors

NEW York attorney general Andrew Cuomo has issued subpoenas to five directors of Bank of America (BoA), according to US sources.<br /><br />Cuomo is seeking information from the executives on what they knew about Merrill Lynch and the bonuses that were paid at the bank in the lead-up to last year&rsquo;s rescue merger with BoA.<br /><br />His investigation centres around allegations that BoA misled shareholders about the scale of bonuses being paid at Merrill, which totalled $3.6bn (&pound;2.2bn) in 2008 despite the bank losing $27.6bn.