New York Attorney General Andrew Cuomo and U.S. Representative Barney Frank demanded Bank of America Corp. immediately disclose 2008 bonus data for all Merrill Lynch & Co. and Bank of America employees who received $1 million or more. Cuomo and Frank, a Democrat from Massachusetts who’s chairman of the U.S. House Financial Services Committee, made their demand in a March 9 letter to Bank of America chairman Kenneth D. Lewis that said...

President Barack Obama called bonus payouts at banks getting rescue funds “shameful” as he and Treasury Secretary Timothy Geithner announced the government will require financial companies getting aid in the future to cap compensation of top officials at $500,000 a year. “To restore our financial system, we’ve got to restore trust,” Obama said at the White House as he set out new rules for companies that seek “exceptional”...