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00:00WITH BANK OF AMERICA. WITH ALL THE LEGACY COMPANIES THAT NOW FOR BANK OF AMERICA. WE DID FILE A STOCKHOLDER RESOLUTION LAST YEAR ON THIS ISSUE. IT WAS MORE OF A STRATEGIC MOVE ON OUR PART. WE WANTED A MORE SUBSTANTIVE CONVERSATION WITH THE LEADERSHIP OF THE COMPANY ON ISSUES RELATED TO ETHICS AND CULTURE AND WHAT THEY'VE BEEN DOING TO AMEND AND CORRECT SOME OF THEIR WAYS AND OPERATIONS SINCE THE FINANCIAL CRISIS. SINCE WE FILE THE RESOLUTION , WE AGREED TO WITHDRAW THE RESOLUTION AND WE HAVE BEEN WORKING WITH BANK OF AMERICA IN PREPARATION FOR A REPORT THAT WILL BE COMING OUT AT THE END OF Q1 IN 2016. MIKE: HISTORICALLY, YOU'VE ARGUED THE POSITION OF CEO AND CHAIRMAN SHOULD BE SEPARATE. IS THIS A ONE-TIME CHANGE IN YOUR POSITION? DOES THAT UNDERMINE YOUR VIEW IN GENERAL FOR THE FUTURE? >> IT GOES MAYBE A LITTLE BIT TO THE MISSION OF THE INTERFAITH CENTER. WE ARE LOOKING FOR THEM TO INDEED FULFILL THEIR SOCIAL MANDATE AND LOOK PARTICULARLY AT THE WAYS THEY SERVE SOCIETY. WE ARE LOOKING AT A BROADER SET OF ISSUES. THIS BEING ONE OF THEM. LOTS OF OTHER ISSUES AS WELL LIKE HIGH-FREQUENCY TRADING CARPOOLS -- DARK POOLS, WE'VE HEARD A LOT ABOUT PAYDAY LENDING AND STUFF LIKE THAT. WE HAVE A NUMBER OF ISSUES THAT WE ENGAGE ON. THIS BEING ONE. OUR MEMBERS HAVE DIFFERENT PRIORITIES. ON THIS PARTICULAR ISSUE, WE WERE HAPPY TO GO IN THIS DIRECTION. TOM: EVERYONE ON WALL STREET WANTS YOUR PERSISTENCE IN MOVING TOWARDS THIS EVENT TODAY IN CHARLOTTE. WHAT HAS BEEN THE RESPONSE OF NONRELIGIOUS, SECTARIAN INSTITUTIONAL SHAREHOLDERS TO YOUR EFFORT HERE? WHAT HAS BEEN THE RESPONSE OF INSTITUTIONAL BY SIDE? >> THEIR POSITION IS CLEAR ON THIS. GOVERNANCE IS A HIGH PRIORITY. THIS IS ONE THAT THE BOARD DOES NOT GET AN A PLUS. YOU WERE JUST TALKING ABOUT MR. BLANKFEIN -- THERE IS QUITE A PRECEDENT FOR THIS IN THE U.S. SYSTEM. I JUST CAME BACK FROM LONDON AND ROME WHERE THEY HAVE A DIFFERENT VIEW ON THESE ISSUES. A NUMBER OF FOLKS WOULD CLEARLY PREFERRED THAT THESE ROLES WERE SEPARATE. WE HEARD BANK OF AMERICA OUT ON THIS ISSUE. AND FELT LIKE ON THIS -- AT THIS PARTICULAR TIME, WE WERE HAPPY TO WITHDRAW THIS RESOLUTION IF THEY AGREED TO THE ETHICS AND CULTURE AND THE DEEP DIVE INTO THE COMPANY IN TERMS OF LOOKING AT WHAT THEIR ROLE IN SOCIETY IS. MIKE: REVEREND SHAMUS FINN. TOM LOOKING AT BANK OF AMERICA SHARES IN PREMARKET TRADING. DOWN 1.4% THIS MORNING. TOM: THE MARKETS ARE ON THE MOVE. A MOST COMPLEX MORNING. FUTURES -34.

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Should Shareholders Split BofA CEO, Chairman Roles?

Interfaith Center on Corporate Responsibility Chair Reverend Seamus Finn discusses the Bank of America shareholder vote that may separate the dual roles of chairman and CEO Brian Moynihan. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)

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