BofA to turn over documents on Merrill buy

The Journal said the new approach is intended to relieve pressure on Bank of America and move it toward settling various investigations of the bank in the wake of its Merrill purchase,according to the people familiar with the matter.

According to the report,Bank of America8217;s board voted to waive privilege on Friday and notified New York Attorney General Andrew Cuomo8217;s office that it would be handing over the documents on Monday.

It said the bank will likely hand over documents to federal,state and Congressional officials investigating Bank of America. The documents should include emails and memos between Bank of America and its outside law firm Wachtell,Lipton Rosen amp; Katz,as well as communication between Merrill and its counsel,Shearman amp; Sterling.

Bank of America executives said their decisions on what to disclose to shareholders about the Merrill deal was based on the advice of lawyers,the paper said.

A Bank of America spokesman could not be reached for comment.