BofA general counsel lacked 'legal' authority in Merrill deal
Brian Moynihan, whom Bank of America named its general counsel on December 10 last year during its contentious takeover of Merrill Lynch, was technically barred from assuming the post until more than a week later, it has emerged, according to a report in New York Post.
Moynihan re-activated his status as an attorney with the Massachusetts Bar Association more than a week later. Some observers said it was unconventional for a serving general counsel not to have an active membership with a state bar association.
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