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BofA's Brian Moynihan - 1 — - 1 that's - 1 Brian Moynihan - 1 Moynihan shrugged - 1
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Search resuls for: "BofA's Brian Moynihan"


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☆ Delinquent debt is piling up. Here's why it's not a reason to worry about the US consumer, according to BofA CEO Brian Moynihan.
  + stars: | 2024-09-11 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +1 min
There's no need to worry about consumers falling behind on debt payments, BofA's Brian Moynihan said. Deliquency rates on credit card and auto loans are normalizing and are close to 2019 levels. Go to newsletter preferences Thanks for signing up! AdvertisementConsumers are falling behind on their credit card and auto loan payments, but that's actually not such a big deal for the economy, according to Bank of America CEO Brian Moynihan. Late payments on consumer credit card loans have ticked slightly higher over the last quarter, with 9.1% of credit card balances and 8% of car loans transitioning into delinquency, according to the New York Fed's latest Household Debt and Credit Survey.
Persons: BofA's Brian Moynihan, —, that's, Brian Moynihan, Moynihan shrugged Organizations: Service, Bank of America, CNBC, Credit Survey, Business Locations: York
☆ Bank of America CEO Brian Moynihan says the US will enter a recession in the 3rd quarter of this year
  + stars: | 2023-03-07 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +2 min
The US will enter a technical recession by the third quarter, according to BofA's Brian Moynihan. Moynihan said Bank of America expects the Fed to begin cutting rates in the second quarter of 2024. "It will be more of a technical recession than it will be a deep drop in the US." The US briefly entered a technical recession last year, but exited in the third quarter of 2022 as economic activity rebounded. But as the economy contracts, Moynihan said Bank of America expects the Fed to begin cutting rates in the second quarter of 2024.
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