Brian Moynihan, CEO of Bank of America, responded to President Donald Trump's allegations of discrimination against conservatives. During a CNBC interview, Trump claimed he was rejected as a customer after his presidency, despite having been a major depositor previously. Moynihan avoided directly addressing Trump's claim but highlighted the need for clearer banking regulations. He acknowledged working with the Treasury administration to achieve balanced rules that wouldn't lead to inconsistent applications, emphasizing that the industry must navigate these regulatory challenges.
Brian Moynihan emphasized the challenges banks face due to regulatory frameworks, asserting the need for clarity in rules to avoid constant shifts in compliance.
Donald Trump claimed that after his presidency, he was rejected as a customer by Bank of America despite being a significant depositor during his presidency.
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