Bank of America CEO visits the White House

Moynihan chats about economy and health care

By Hans Nichols
Bloomberg News / June 9, 2010

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WASHINGTON — Bank of America Corp.’s chief executive, Brian Moynihan, met with White House officials yesterday to discuss issues ranging from health care to the economy, an administration official said.

Moynihan had separate meetings with Valerie Jarrett, President Obama’s liaison to corporate America, and Lawrence Summers, the White House economic adviser, said the official, who requested anonymity. He also dropped by the office of Rahm Emanuel, Obama’s chief of staff. No other banks were represented in the meetings.

Moynihan said he was at the White House “just doing a little work.’’

White House officials have voiced their appreciation for Moynihan’s support for a consumer financial protection agency and for steps he has taken to address shortcomings the administration finds with his bank’s home-loan modification program.

“He has been willing to speak out bravely in his industry on the need for reform measures,’’ Jarrett said in an interview on May 10.

Moynihan and Jarrett also discussed Bank of America’s announcement yesterday that it will expand health insurance coverage for dependents up to age 26, said the official. As part of the health-care bill Obama signed into law in March, companies will be required to offer insurance to dependents next year.