BofA CEO Moynihan says bank will not oppose CFPA

02/2/2010 | Bloomberg

Brian Moynihan, chief executive at Bank of America, told officials at the White House and Treasury that the largest bank in the U.S. will not oppose the Obama administration's plan to establish a Consumer Financial Protection Agency. "We've made it clear to various organizations of which we are part that we aren't lobbying against the agency," bank spokesman James Mahoney said. However, Bank of America isn't promoting the idea, either.

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