Bank of America's current CEO is Brian Moynihan

Brian Moynihan has been the Chief Executive Officer of Bank of America since 2010. He oversees all operations of the bank, which serves roughly 66 million customers across the United States and globally. Moynihan reports to the bank's Board of Directors and is responsible for strategy, risk management, and day-to-day decisions that affect how the bank operates.

Before becoming CEO, Moynihan spent over a decade at Bank of America in various leadership roles, including head of the Global Wealth and Investment Management division. He joined the bank through its 2006 acquisition of LaSalle Bank, where he was an executive. His background is in law and business—he holds a law degree from Notre Dame and an MBA from Harvard Business School.

The CEO role matters to account holders because Moynihan sets the bank's policies on fees, interest rates, customer service standards, and how the bank handles disputes or fraud. Changes to account terms, overdraft policies, or fraud protection often flow from decisions made at the executive level.

Key Takeaways

  • Brian Moynihan has led Bank of America as CEO since 2010 and is accountable to the Board of Directors for the bank's performance and strategy.
  • The CEO's decisions directly affect account holder policies, including overdraft fees, interest rates on savings accounts, and fraud protection procedures.
  • Bank of America's leadership structure includes a Chief Risk Officer, Chief Financial Officer, and other executives who manage specific divisions under the CEO.
  • If you have a complaint about bank policy or service, escalating beyond a branch manager may eventually reach the office of the CEO or the Board.

How the CEO's decisions affect your account

The CEO sets the strategic direction for the bank, which translates into concrete changes you may notice. When Bank of America adjusts overdraft fees, modifies interest rates on savings accounts, or changes the fraud dispute process, those decisions originate from the executive leadership level. Moynihan has overseen several major policy shifts, including the bank's 2021 decision to eliminate overdraft fees for customers who maintain low balances and its ongoing adjustments to checking account requirements.

The CEO also determines how much capital the bank invests in customer service infrastructure, fraud prevention technology, and dispute resolution. A CEO who prioritizes these areas will typically result in faster resolution times for disputed transactions and better fraud detection. Conversely, cost-cutting decisions made at the executive level can affect how quickly you reach a live representative or how thoroughly your claim is investigated.

The leadership structure below the CEO

Moynihan does not run the bank alone. Reporting to him are several executives who manage major divisions: the Chief Financial Officer oversees the bank's money and financial reporting; the Chief Risk Officer manages fraud, compliance, and operational risk; the Chief Operating Officer handles day-to-day operations; and division heads run Consumer Banking, Global Wealth and Investment Management, and Global Banking.

When you call Bank of America with a problem, you are typically speaking with someone in one of these divisions. If your issue is not resolved at the branch or call center level, it may escalate to a division manager, then potentially to the Chief Operating Officer's office or the office of the CEO. The bank also has a Board of Directors that oversees Moynihan and can remove him if the board determines his performance is inadequate.

How to escalate a complaint to executive leadership

If you have a serious unresolved issue with your Bank of America account—such as a disputed transaction that was not handled correctly, a fee you believe was applied in error, or a service failure—you can escalate your complaint beyond the branch level. Start by asking to speak with a branch manager or calling the customer service number on your statement and requesting a supervisor. Document the names, dates, and details of each conversation.

If the supervisor does not resolve the issue, ask for the mailing address of the regional office or the executive complaint department. Bank of America maintains a formal escalation process for complaints that do not resolve at lower levels. You can also file a complaint with the Consumer Financial Protection Bureau (CFPB), a federal agency that investigates complaints against banks. The CFPB forwards complaints to Bank of America's executive team, and the bank is required to respond within a set timeframe.

Complaints submitted to the CFPB are taken more seriously by bank leadership than those handled only internally, because the bank must report CFPB complaints in regulatory filings and the complaints become part of the bank's public record.

What happens when the CEO changes

Bank of America has had four CEOs since 2004: Ken Lewis, Brian Moynihan (since 2010), and before that, Hugh McColl and NationsBank leadership. When a new CEO takes over, account holders often see shifts in strategy within the first year or two. A new CEO may introduce new fee structures, change the bank's technology investments, or alter how customer disputes are handled.

The transition to a new CEO is announced publicly, and the bank's investor relations team publishes details about the new leader's background and priorities. If you are concerned about how a leadership change might affect your account, you can review the bank's official press releases and SEC filings, which outline the new CEO's stated priorities.

Frequently Asked Questions

Can I contact Brian Moynihan directly about my account problem?

No, the CEO does not handle individual account issues. However, you can escalate a serious unresolved complaint through Bank of America's formal complaint process or file a complaint with the Consumer Financial Protection Bureau, which will reach executive leadership. The CFPB complaint is the most effective route because it creates a documented record that the bank must respond to.

Does the CEO decide on interest rates for savings accounts?

The CEO and executive team set the bank's overall interest rate strategy, but rates also respond to Federal Reserve policy and market conditions. When the Federal Reserve raises or lowers its benchmark rate, banks typically adjust their savings account rates within days or weeks. The CEO approves the bank's rate-setting framework, but individual rate changes often happen automatically based on market conditions.

What happens if I disagree with a decision the CEO made about bank policy?

You can voice your concern through the formal complaint process, or you can switch to a different bank. Bank of America's leadership pays attention to customer complaints, especially those filed with the CFPB or reported in the media. If many customers object to a policy, the bank may reconsider it. You can also contact your elected representatives if you believe the bank's policy violates consumer protection laws.

How long has Brian Moynihan been CEO?

Brian Moynihan became CEO in 2010, making him one of the longest-serving CEOs in the banking industry. His tenure has spanned the post-financial crisis period, the COVID-19 pandemic, and multiple changes in federal banking regulation. His length of service means he has shaped Bank of America's policies and culture for over a decade.