Ken Lewis To Continue Cooling His Heels For A While
Bank of America Corp. and former Chief Executive Kenneth Lewis took big steps to put the financial crisis behind them by paying state and federal agencies to settle lawsuits over the acquisitions of Countrywide Financial Corp. and Merrill Lynch & Co...Mr. Lewis agreed to pay $10 million and accept a three-year ban from work at any public company as part of the New York settlement. Bank of America will cover Mr. Lewis's penalty, according to people familiar with the deal. Mr. Lewis neither admitted nor denied wrongdoing. [WSJ]