Jun
17
Fed Suggests BofA Might Like To Plan For Once Instead Of Swatting At Problems As They Come Up
By
When you look at Brian Moynihan, do you see a man ready for disaster? A pair of safe hands? The kind of calm, collected figure who can nimbly navigate rough waters without a detailed, tested plan in hand? Neither does the Fed. It does not want to see BriMoy improvising when the chips are down—and it’s not afraid to say so.
The Fed, which administers the annual tests to gauge whether big banks can withstand another financial shock, has told Bank of America it doesn’t believe its management is forward-looking enough and instead merely reacts to problems after they are raised by regulators, some of these people said…
Fed Suggests BofA Might Like To Plan For Once Instead Of Swatting At Problems As They Come Up
