CHARLOTTE, N.C. -- Bank of America Chief Executive and Chairman Kenneth Lewis is recommending that he and his top executives receive no bonuses for 2008.

That's according to media reports citing an internal memo sent out on Tuesday.

Lewis says he expects the bank's final results to be below expectations.

The reports also say the Charlotte-based bank's board still has to verify Lewis' recommendation.

The move puts Lewis on a long list of CEOs in the U.S. financial services industry to decline bonuses this year.

Bank of America is among several financial institutions who have received financial assistance from the U.S. government. As a condition for receiving government money, lawmakers are making companies reel in bonuses. The congressional backlash and public outrage followed a series of high-profile cases involving Wall Street executives walking away with millions of dollars after their firms received taxpayer money.