"Housing still has room to go here. Not dramatic — we don't want to overbuild housing and we found out that wasn't the best idea," Moynihan told the "Mad Money" host.
Moynihan also revealed that data on consumer spending showed a shift in how people are spending money. Debit and credit card spending is up 5 percent year-to-date and the company has continued to gain share as people are now spending money on experience more than goods.
"A lot more experience and a lot less things," he explained.