The Bank of America (BoA) is still in negotiation with US officials regarding a ringfencing agreement that was reached as part of the terms of its bailout earlier this year.
According to a letter released by the chairman of the Committee on Oversight and Government Reform Edolphus Towns, the bank is "stonewalling" over the deal, which saw the US administration offer insurance against further losses on $118 million in toxic assets.
Chief executive of the financial institution Ken Lewis said talks were underway over how much BoA owes, but Mr Towns called on the bank to agree to repay the money to taxpayers.
"It seems that the bank wants to have it both ways - all the benefits of government insurance without having to pay a dime for all of its benefits," he stated.
BoA was given $20 billion in fresh capital by the government in January of this year due to the losses that it acquired following its takeover of mortgage broker Merril Lynch.
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