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Mass. regulators issue subpoena for records of Bank of America unit

By Todd Wallack

 |  Globe Staff  

  February 10, 2012

State regulators are investigating whether Bank of America Corp. trumped up the value of securities it marketed to investors in 2007 that ultimately cost investors $150 million in losses. Secretary of State William F. Galvin said today that he has issued a subpoena to a unit of bank, Banc of America Securities LLC, for documents on two sets of collateralized loan obligations. Bank of America, one of the nation’s biggest banks and the largest in Massachusetts, said it plans to cooperate with Galvin’s office.

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