Bank of America CEO Moynihan Says Credit Card Cap May Not Work as Expected

Watch on YouTube ↗  |  January 22, 2026 at 14:27  |  14:22  |  Bloomberg Markets
Speakers
Brian Moynihan — CEO, Bank of America

Summary

Bank of America Chairman and CEO Brian Moynihan speaks with Bloomberg Surveillance from Davos about the US economy, BofA's business momentum, and policy issues. He says BofA research raised its 2026 US GDP forecast to 2.8% and remains bullish on America, citing strong consumer spending. He also warns that a proposed 10% cap on credit card interest rates could have unintended consequences by reducing credit availability and slowing spending. He discusses investment banking pipelines, IPO deal flow, housing affordability, and AI-driven productivity.

  • BofA raised its 2026 US GDP forecast to 2.8%.
  • Consumer spending remains strong in Q4 and January.
  • BofA markets and investment banking showed strong momentum.
  • Moynihan warns a credit card rate cap may reduce credit availability.
  • Investment banking pipelines are full and IPO markets are broadening.
  • Housing affordability and 401(k) withdrawal ideas were discussed.
  • AI and technology support BofA productivity and headcount management.
  • Moynihan comments on the White House relationship and client confusion over Greenland.
Ideas
Brian Moynihan CEO, Bank of America 0:23
Bullish on US growth outlook
BofA research raised its 2026 US GDP forecast to 2.8% as the Trump administration's trade, tax, immigration, and deregulation policies settle in. Moynihan confirms he is bullish on America, citing strong consumer spending: Q4 spending grew about 5% year-over-year and January is running faster.
United States (economy) HIGH
Brian Moynihan CEO, Bank of America 1:58
Bank of America positioned for growth
BofA is positioned to benefit from better US growth: its markets business has grown year-over-year for 15 consecutive quarters and was up 10% in Q4; investment banking had its second-best fee year ever; and management is bullish for next year because pipelines are full, revenue is broadening into IPO markets, and regulatory approval timelines have normalized.
BAC HIGH
Brian Moynihan CEO, Bank of America 5:53
Credit card rate cap may backfire
Moynihan warns that the proposed 10% cap on credit card interest rates may create an equal and opposite reaction. If implemented, lenders could reallocate credit, slow spending, and reduce credit availability, making the policy less effective and creating a risky operating backdrop for credit card issuers.
Credit card issuers MED
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This Bloomberg Markets video, published January 22, 2026, features Brian Moynihan discussing United States (economy), BAC, Credit card issuers. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Brian Moynihan  · Tickers: United States (economy), BAC, Credit card issuers