Politics | Edolphus Towns Congress, BofA Clash Over Merrill Secrets Bank insists merger talk protected, Towns issues spill deadline By Mat Probasco Posted Sep 21, 2009 5:40 AM CDT Copied House Committee on Oversight and Government Reform Chairman Edolphus Towns, D-NY, speaks during a committee hearing July 8, in Washington. (AP Photo/Manuel Balce Ceneta) Bank of America claims it doesn't have to produce details about its decision to merge with Merrill Lynch because the conversations are protected by attorney-client privilege. But the chairman of the House Oversight and Government Reform Committee begs to differ, reports the New York Times. The showdown peaked last week when Rep. Edolphus Towns gave the bank until noon today to produce documents. Towns wants to know when Bank of America knew of Merrill's enormous losses last year, when it got a commitment for federal bailout money, and what the bank’s legal advisers said about about having to disclose those developments to shareholders. Bank officials have asked for more time, but Towns stuck to his guns, saying the company was “hiding information.” Read These Next Who added bill's proposed tax on clean energy? No one knows. Soccer star Diogo Jota is killed in a car crash. Bryan Kohberger has admitted his guilt. Pardoned Capitol rioter receives life sentence. Report an error