Bank of America's decision to agree a $33m (€22.9m) settlement with the US regulator for "misleading" investors over its purchase of Merrill Lynch last year, has led to calls in the blogosphere for the resignation of the bank's chief executive Ken Lewis. Here, Financial News rounds up a selection of reaction from around the Web.

The Securities and Exchange Commission alleged that the proxy materials soliciting the votes of shareholders on the proposed acquisition of Merrill were 'materially false and misleading' as Bank of America stated that Merrill had no authority to pay discretionary bonuses to its employees before the closing of the merger.