New York State Attorney General Andrew Cuomo has issued a subpoena to Bank of America Corp. to get information on how it allocates its bonuses.

According to The Wall Street Journal, Cuomo's office believes BofA has not adequately responded to an informal request made two weeks ago for information on executive compensation.

Late last month, Cuomo sought information from the country's nine largest banks, including Charlotte, N.C.-based BofA, regarding their plans for paying bonuses. He also asked their boards to explain what mechanisms they have in place to protect the taxpayer funds obtained through the federal bailout package.

The banks agreed to accept $125 billion in federal funds as part of the government's effort to add liquidity to the credit markets.

How banks handle their compensation has become a political issue with the infusion of public funds. Critics say executives should not receive large amounts of compensation while their institutions are benefiting from federal funding.

Cuomo also requested the information from New York-based Merrill Lynch & Co. Inc., which BofA is slated to buy for $50 billion.

BofA would not confirm to the Journal whether it received the subpoena. But a spokesman told the newspaper that BofA responded to Cuomo's initial letter and that BofA is not using bailout money for executive compensation or bonuses.