Bloomberg Talks Bank of America CEO Brian Moynihan Talks Credit Card Cap
Jan 22, 2026
Brian Moynihan, Chairman and CEO of Bank of America, discusses the impact of consumer affordability on the economy. He warns that a proposed 10% cap on credit card interest rates could hinder credit availability. Moynihan talks about the bank's initiatives, like lower-fee products and emergency loans, aimed at addressing affordability concerns. He also shares insights on inflation, hiring challenges, and how AI is reshaping jobs while maintaining productivity. His collaboration with the White House emphasizes the importance of thoughtful solutions for American consumers.
AI Snips
Chapters
Books
Transcript
Episode notes
Upgraded Growth Forecast Backed By Consumer Spending
- Bank of America raised its US GDP forecast to 2.8% for 2026 based on improving policy clarity.
- Moynihan says consumer spending remained strong and underpins that growth view.
Deal Flow And Fees Are Recovering
- Bank of America's markets and investment banking businesses showed sustained revenue growth and deal pipelines are filling.
- Moynihan expects IPOs and broader transaction activity to pick up next year, boosting fees.
Watch Behavior Not Just Surveys
- Consumers spend on dining, travel and essentials but remember inflation, which weighs on sentiment.
- Moynihan advises watching consumer behavior rather than survey sentiment for the true picture.
