BofA's Borthwick says consent order has no asset cap and crowds out nothing
BAC•Bank of America CFO Alastair Borthwick said the consent order has no asset cap and does not crowd out other activity. He said the bank still expects full-year revised net interest income growth of approximately 8%.
1. Consent order and outlook
Borthwick said the consent order neither has an asset cap nor crowds out anything else. He also said Bank of America still expects to meet its revised full-year net interest income growth guidance of approximately 8%.
2. Investment and leadership
Borthwick said the bank continues to invest in bankers, technology and AI tools to improve research, preparation and opportunity identification. CEO Brian Moynihan said succession is the board's decision and that the company feels very good about its team and leadership.
