Bank of America shareholders approve CEO's $35 million pay package; positive.

From Yahoo Finance: 2025-04-22 12:12:00

Bank of America shareholders approved CEO Brian Moynihan’s $35 million pay package, despite concerns raised by proxy adviser ISS. Moynihan’s compensation increased by 21%, credited to growing net income by 2.3% and revenue by 3.4% last year. The impact of U.S. tariffs on the bank will be indirect, affecting the economy’s performance. The bank’s economic team predicts no recession this year but expects the Federal Reserve not to cut interest rates due to sticky inflation. Shareholders also rejected proposals on reporting lobbying activities and climate targets alignment. BofA left the Net-Zero Banking Alliance recently and reported higher-than-expected first-quarter profit.



Read more at Yahoo Finance: Bank of America’s shareholders OK executive compensations, elect directors