- CNBC discussed market pressures affecting Bank of America stock.
- Moynihan discussed remediation efforts with CNBC following the bank's earnings release.
Bank of America CEO Defends Debit Fee Amid PR Scrutiny
What happened
Brian Moynihan, CEO of Bank of America, defended the bank's debit fee during an appearance on CNBC. A report noted that Bank of America announced a $5 monthly debit card fee in 2011, and Moynihan defended that fee on CNBC at that time.
From everything-pr.com
Why it matters
The discussion highlights how fee announcements can lead to customer revolt and financial PR failures. Such public controversies surrounding fees could potentially increase regulatory scrutiny on Bank of America.
Moynihan discussed remediation efforts with CNBC following the bank's earnings release, while CNBC also addressed market pressures affecting Bank of America stock.
From everything-pr.com
Who's involved
- Brian MoynihanCEO of Bank of America who defended the debit fee.
- Bank of AmericaAmerican multinational banking and financial services corporation.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Office of the Comptroller of the CurrencySpeculative
The Office of the Comptroller of the Currency might face increased regulatory scrutiny due to the public PR failure regarding customer fees.
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The entities involved
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Bank of America
American multinational banking and financial services corporation
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Brian Moynihan
American businessman, banking executive and lawyer
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