Bank of America CEO Brian Moynihan defended the bank's decision to impose a $5 debit card fee on customers next year, saying it was needed, in part, to recoup billions of dollars in costs from complying with Dodd-Frank law.
"I have an inherent duty as a CEO of a publicly held company to get a return for my shareholders," he told CNBC's Larry Kudlow during a discussion hosted by the Atlantic and the Aspen Institute in Washington. "At the same time, I have a inherent duty to do a great job for my customers."
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