Bank of America CEO: U.S. Consumer Spending Remains Strong, Industry Ready for Regulatory Easing

Bank of America CEO Brian Moynihan says U.S. consumers are still continuing to spend, and the banking industry is gearing up for regulatory reform -- which will 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, and that's usually recognised in hindsight ...... If these rules were changed, there wouldn't be this downside.’