Bank of America CEO: U.S. consumer spending remains strong, industry ready for deregulation
2025-03-19 17:09:07
Brian Moynihan, chief executive of Bank of America, said US consumers continued to spend while the banking industry was preparing for regulatory changes that would allow banks to enter industries they would otherwise have to avoid. "These rules are difficult for institutions to comply with because of the reputational risk involved, which is usually identified in retrospect... If these rules were changed, there would be no such drawback."
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