After a meeting between Bank of America executive Anne Finucane and Adolphus Towns, the chairman of the House Oversight and Government Reform Committee, BofA has agreed to provide a privilege log that the House panel can review. BofA is reportedly withholding certain documents requested by Congress because it claims they are protected by the attorney-client privilege.
Reuters reports that Towns dscribed the meeting as constructive and said his panel would review the log to determine which documents are critical to its investigation.
As previously discussed here, Towns’ committee recently demanded that BofA disclose all relevant information about its discovery of Merrill’s mounting losses, its receipt of government funds to plug those balance-sheet holes and the reasons why BofA did not inform shareholders of such developments immediately.
