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BofA CEO says business outlook is brighter under Trump, expects surge in banking, trading revenue


Published on 2024-12-11 15:20:47 - Reuters
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  • Bank of America expects regulatory changes under President-elect Donald Trump to favor mergers and acquisitions among companies, including banks, CEO Brian Moynihan said on Wednesday.

The article from Reuters discusses comments made by Bank of America CEO Brian Moynihan at a Reuters NEXT conference, where he expressed optimism about the U.S. business environment under a potential second term for former President Donald Trump. Moynihan highlighted that the regulatory environment would likely be more favorable for banks, predicting a surge in banking activities in 2024 due to anticipated changes in regulations and economic policies. He noted that while the immediate future might see some regulatory adjustments, the overall outlook for banks would improve, driven by expectations of less stringent regulations and a more business-friendly climate. Additionally, Moynihan touched on the broader economic context, mentioning that despite current economic challenges, the U.S. economy is expected to grow, supported by consumer spending and a robust labor market.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bofa-ceo-says-business-outlook-is-brighter-under-trump-expects-surge-banking-2024-12-11/ ]