Bank of America accused of shelling out big bonuses to bankers

However, Bank of America is denying the claims. "Any reference to [a] specific associate's compensation in this story is inaccurate," spokeswoman Jessica Oppenheim told the Post. She added that the bank is simply "taking the steps necessary to retain key talent in response to competitive pressures."

In case you hadn't noticed, rich pay packages at struggling banks have been quite the point of contention amid the sector-wide bailout. Outspoken Rep. Barney Frank has previously compared banking bonuses with bribes, citing them as further evidence of the out-of-control greed that sparked the global financial crisis. If CEO Kenneth Lewis wants to avoid any further interrogations on Capitol Hill, Bank of America might be wise to distance itself from this story as quickly as possible.

BAC is also in a tight spot on the charts, with the stock currently sandwiched between support at its 10-week moving average and resistance from its 10-month trendline. During the short term, overhead pressure on the shares will likely be exacerbated by heavy overhead call open interest -- the June 13 strike carries a whopping 199,635 out-of-the-money calls, which could exert options-related resistance through Friday's expiration.

Elizabeth Harrow is an analyst and financial writer in the research department at Schaeffer's Investment Research. She is featured in the video series Schaeffer's Daily Q&A on SchaeffersResearch.com.