Moynihan Blocks Bank of America Broker Pay Cut

Moynihan Blocks Bank of America Broker Pay Cut Play

Dec. 20 (Bloomberg) -- Bloomberg's Michael Moore reports that Bank of America CEO Brian Moynihan blocked a proposal to cut the main component of most brokers’ pay for 2013. The plan would have reduced the so-called grid payout for Merrill Lynch financial advisers by two percentage points. He speaks on Bloomberg Television's "Market Makers."

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