Bloomberg News

BofA Cost From Dodd-Frank Is Billions of Dollars, Moynihan Says

October 05, 2011

Oct. 5 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Brian T. Moynihan said the Dodd-Frank financial regulations are costing the largest U.S. bank billions of dollars.

“We’ve made estimates” Moynihan said at an event in Washington today, when asked about the cost. “It’s in the billions of dollars.”

--Editors: Dan Kraut, David Scheer

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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