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BofA’s Moynihan Says Capital Rules May Discourage Lending

Bank of America Corp. Chief Executive Officer Brian T. Moynihan said excessive capital surcharges on the largest banks could limit lending and discourage investors from funding the industry.

“If you impact our returns and our business to a point, investors are going to look around and say there’s other places to put the money,” Moynihan said today in an interview with Bloomberg Television in St. Petersburg, Russia, where the International Economic Forum is being held. “And that’s what you’ve actually seen in bank stocks.”