Bank of America plans vote on change allowing CEO to be chairman

Bank of America plans to hold a shareholder vote on the change the board made to company bylaws in October to allow CEO Brian Moynihan to also be chairman.

The vote, to be held no later than 2016, is in response to comments from shareholders since the board made the change on its own, according to a letter sent to shareholders on Monday by Moynihan and Jack Bovender, the lead independent director on the board.