'Fiscal Cliff' Repercussions Could Stretch in 2014: BofA CEO
Banking Fees
Bank of America is seeking to raise revenue by expanding relationships with its banking customers rather than increasing fees.
"What we're doing is everything we can to drive relationship banking," said Moynihan. "The more relationship people have with us, they'll be able to avoid fees and charges because it's a trade of value and that's what we've been after."
Moynihan would not comment on whether any fees would be going up or the timing related to any such move.
As President Obama and Republican leaders race to avoid the fiscal cliff, Bank of America CEO Brian Moynihan says the uncertainty has already hurt business spending for next year and that no resolution by year-end presents not only a near-term recession risk but also the possibility of longer negative effects.
