Bank of America seeks billions from U.S. to cinch Merrill deal

— -- Bank of America BAC is in talks with the U.S. government for billions of dollars to help complete its acquisition of Merrill Lynch, industry and government sources who are familiar with the talks told USA TODAY.

They declined to be named because the talks are ongoing. The Charlotte bank made a deal in September to acquire Merrill for $50 billion, and said on Jan. 1 that it had completed the merger. However, BofA had already begun talks in December with the Treasury Department, which committed to help the company, a source with direct knowledge of the talks said.

BofA received $25 billion from the first round of the government bailout. Now the bank hopes to tap into more capital from the $700 billion Troubled Asset Relief Program that the government set up last year to bring stability to the financial markets.