SEC Settlement May Threaten Bank of America’s CEO

Kenneth Lewis’ days as chief executive of Bank of America may finally be numbered. Observers and investors say a settlement with the Securities and Exchange Commission may ultimately cost Lewis the top job at the nation’s largest bank. On Monday, the bank agreed to pay $33 million to settle Securities and Exchange Commission charges that Lewis and other executives misled the bank’s investors prior to its $50 billion purchase last year of brokerage firm Merrill Lynch.