CHARLOTTE, N.C. – Bank of America Corp. Chief Executive Brian Moynihan met with Treasury Secretary Tim Geithner and Federal Reserve Board Gov. Daniel Tarullo this week amid market turbulence that has shaken the bank’s stock price.

Bank spokesman Larry Di Rita declined to provide specifics on the conversations but said Moynihan meets periodically with senior officials and policy-makers.

“It’s just a chance to exchange views on the economy, the markets and what we’re seeing,” Di Rita said.

The separate meetings were held in Washington on Wednesday, the same day Moynihan held a closely followed conference call with a large investor. In the call, he stressed the bank was stronger than during the 2008 financial crisis and working through its mortgage-related problems.

Moynihan also spent the week reassuring employees about the bank’s prospects, sending out a memo on Monday and holding other meetings. He has also provided updates to board members.

In the meetings in Washington with Geithner and Tarullo, Moynihan talked about the importance of firming up the nation’s housing market in order to get the economy going again, Di Rita said. A stumbling block for the bank has been long-running negotiations with state attorneys general and the U.S. Justice Department to settle an investigation of foreclosure-related errors.

 


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