Bank of America's Wrong-Way Rate Bet Hurts Moynihan's Growth Pledge
(Bloomberg) -- For years, Brian Moynihan told investors his bank would be a big winner when interest rates eventually, finally, one day went up. Bank of America Corp. had built a massive deposit base that would allow profits to soar when the Federal Reserve changed course.Most Read from BloombergIsrael Latest: Army Stops Lebanon Incursion, Calls Up 300,000Israel Latest: Over 1,100 Dead; US Sends Warships to RegionSchumer Confronts Xi on Israel-Hamas Stance in Rare MeetingOil Surges as Israel Con
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