WSJ: Gov't Pressuring Bank Of America Board Change

On Monday, Lewis said the decision on how long he stays wasn't his.

"I would like to see us at least start to be able to pay back the government money, if not do it all," Lewis said during a call with analysts. He added he would then "regroup and then decide how much energy I have left and how well prepared are we to make the transition."

According to the Journal report, members of the new committee include BofA directors: former MBNA Corp. executive vice chairman Frank Bramble; NSTAR CEO Thomas May; former Internal Revenue Service Commissioner Charles Rossotti; and former FleetBoston Financial Group CEO Charles Gifford, who served as chairman for several months in 2004 following Bank of America's acquisition of FleetBoston.

The committee is expected to examine the strength of the board and the issue of CEO succession, the Journal said, citing a person familiar with the situation.

Executives at the company, Brian Moynihan, Barbara Desoer and Joe Price have all been cited internally as candidates, according to the Journal.

Investors have been upset in recent months over a tremendous drop in the company's stock price, continuing losses and ongoing government investigations surrounding Bank of America's acquisition of Merrill Lynch.