Bank of America CEO Brian Moynihan highlighted strong consumer spending and continued payments growth at a financial-services conference, despite underlying affordability concerns. The bank has also reduced about 2,000 roles since mid-2025 due to automation, with AI tools now performing the work equivalent to approximately 11,000 employees.
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Bank of America CEO: Customers keep spending despite affordability concerns
Bank of America CEO Brian Moynihan highlighted strong consumer spending and continued payments growth at a financial-services conference, despite underlying affordability concerns. The bank has also reduced about 2,000 roles since mid-2025 due to automation, with AI tools now performing the work equivalent to approximately 11,000 employees.