NEW YORK (CNN) - Troubled community organizing group ACORN suffered another setback on Monday, when Bank of America announced it is pulling its funding of ACORN Housing.
In a statement, Bank of America said that is it "suspending current commitments to ACORN Housing and will not enter into any further agreements with ACORN or any of its affiliates" until it is satisfied that all issues related to the organization have been resolved.
The Association of Community Organizations for Reform Now, known as ACORN, has been under investigation by both the Justice and Treasury Department after videos recorded on hidden cameras by conservative activists showed
employees allegedly giving advice on illegal activities.
ACORN is also conducting its own investigation through an independent auditor and it says that it has fired the employees involved in the recorded incidents.
The organization was in the headlines during the recent presidential campaign after allegations of voter registration fraud. Some of its voter registration workers were prosecuted and some other employees resigned.
Even greater controversy was ignited by the videos, which show some ACORN workers advising two conservative activists - posing as a pimp and a prostitute - how to set up a prostitution business involving underage, foreign girls.
Bank of America said it "takes recent allegations made against ACORN and ACORN Housing Corporation employees very seriously."
ACORN did not immediately respond to a CNN request for comment.
–CNN's Amy Sahba contributed to this report.