(Bloomberg) -- Former Bank of America Chairman Kenneth Lewis agreed to a three-year ban on serving as a public company's officer or director and to pay $10 million to settle claims by New York's attorney general that he misled investors about the bank's 2009 purchase of Merrill Lynch.

Under the agreement, announced today by Attorney General Eric Schneiderman, the bank agreed to pay $15 million to resolve claims against it. The bank, the second largest in the U.S., agreed to corporate governance reforms as part of the pact.

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