BoA CEO Defends Debit Fee

October 5, 2011

Bank of America CEO Brian Moynihan defended his FI’s new $5 monthly debit fee in an interview with CNBC‘s Larry Kudlow.

“I have an inherent duty as a CEO of a publicly-owned company to get a return for my shareholders,” Moynihan reportedly said. “At the same time I have an inherent duty to do a great job to my customers.”