Bank of America CEO: Consumers are spending and small businesses are feeling optimistic

Summary

Bank of America CEO Brian Moynihan joined CNBC's Power Lunch after the bank beat fourth-quarter earnings and revenue expectations, highlighting 19% EPS growth, 10% net interest income growth, and $30 billion in annual earnings. He said consumers are still spending, small businesses are optimistic, and BofA research expects 2.6% GDP growth in 2026. Moynihan also addressed bank stock weakness, a proposed 10% credit card rate cap, and said he expects the recent pullback in large bank stocks to reverse.

• Bank of America beat Q4 earnings and revenue, with 19% EPS growth and 10% NII growth.
• Moynihan said consumer spending grew over 5% and small businesses remain optimistic.
• BofA research forecasts 2.6% GDP growth for 2026.
• Large bank stocks are down 5-6% year-to-date, but Moynihan expects a rebound.
• Moynihan opposes a proposed 10% credit card rate cap, warning it would shrink credit availability.
• He cited tax and tariff clarity and deregulation as supports for small-business optimism.