WASHINGTON — The House Oversight and Government Reform Committee issued a second subpoena to the Federal Reserve Board on Friday demanding more documents detailing the central bank's role in Bank of America Corp.'s deal for Merrill Lynch.
Earlier this month, the committee issued a subpoena for documents dated between September and January. A committee spokeswoman said the scope remains the same. The committee has already reviewed the documents being sought through the earlier subpoena.
The panel is investigating why the government had to chip in $20 billion to complete the merger. B of A chief executive Ken Lewis told the New York attorney general that he was reluctant to finish the deal because of a souring financial picture at Merrill but went ahead after Fed Chairman Ben Bernanke threatened to fire him and his board of directors.
Bernanke is scheduled to testify before the committee on Thursday and has previously stated that he did not push Lewis into the merger. Lewis appeared before the panel earlier this month and backed away from the charge.
The Fed has pledged to cooperate with the committee's investigation, though a Fed spokeswoman did not immediately comment on the second subpoena on Friday.