Bank of America CEO defends loan modification work

DAVOS/SWITZERLAND - Brian T. Moynihan, Preside...

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TAMPA – It’s been a rough two years for Bank of America.

It acquired Merrill Lynch, only to discover it had lost $15 billion in a single quarter. It lost its chief executive officer, Ken Lewis, when he resigned. And, critics complain it’s done too little to prevent mortgage foreclosures.

To steer it through the tough times, the bank tapped Brian Moynihan as the new chief executive. He is a former corporate lawyer who joined Bank of America in 2004 and most recently led its retail bank and credit card operations.

Moynihan was in Tampa Wednesday meeting with bank employees and clients. The Tribune spoke with him about issues including the continuing controversy over bank bailouts and loan modifications.

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