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CHARLOTTE, N.C., Sept. 15 /PRNewswire/ — Bank of America Chief Executive Officer Ken Lewis issued the following comments regarding President Barack Obama’s September 14 speech regarding financial regulatory reform.
“A year ago this week, the U.S. economy was on the brink of disaster. Large and important financial institutions were failing, as was confidence in our financial system. Clearly, the actions taken by the federal government, in the previous and current administrations, effectively stabilized our financial
system.
“President Obama called for reforms to our financial regulatory system that would address the excessive risk-taking, lack of transparency and proliferation of unregulated financial businesses that precipitated the financial crisis. We support the President’s efforts to ensure adequate vigilance on systemic risk and enhanced simplicity and transparency in financial services products, while maintaining the innovation and efficiency that enable our financial system to drive economic growth in the U.S. and around the world.”
Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 53 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,500 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries.
Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
www.bankofamerica.com
SOURCE Bank of America
Scott Silvestri of Bank of America, +1-980-388-9921,
scott.silvestri@bankofamerica.com
