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New England Political Backlash Continues to Build against B of A
Beginning of article
Bank of America Corp.'s recent moves in New England are getting flak -- from calls for specific sanctions to the possibility of tougher rules for approving bank deals.
The Charlotte company, which bought FleetBoston Financial Corp. in April, laid off hundreds of employees in New England last week and is moving its small-business and Latin American banking divisions out of Massachusetts.
State officials had not expected the moves and said B of A executives had promised to maintain job levels to secure support for the $46 billion deal.
Rep. Barney Frank of Massachusetts, the ranking Democrat on the House Financial Services Committee, said Thursday that the rules regulators use to judge bank …
