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NEWS: Bank of America CEO calls for AML rules to be simplified

AML: Bank of America Chairman and CEO Brian Moynihan testifies before a Senate Banking, Housing, and Urban Affairs hearing on "Annual Oversight of the Nation's Largest Banks", on Capitol Hill in Washington, U.S., September 22, 2022. REUTERS/Evelyn Hockstein/File Photo

By PAUL O’DONOGHUE, Senior Correspondent

BANK of America CEO Brian Moynihan has called for a rethink of how anti-money laundering rules impact the banking sector.

Speaking at a conference in Washington, Moynihan called for more dialog about regulations on AML, know-your-customer and reporting requirements.

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