Bank of America's shareholders OK executive compensations, elect directors

Reuters - 23:51
Bank of America shareholders voted on Tuesday to approve pay packages for CEO Brian Moynihan and the lender's top executives, and also elected its 14 directors on the board.
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NEW YORK, April 22 (Reuters) - Bank of America (BAC.N), opens new tab shareholders voted on Tuesday to approve pay packages for CEO Brian Moynihan and the lender's top executives, and also elected its 14 directors on the board.
Proxy adviser Institutional Shareholder Services had recommended that investors vote against the payouts, expressing concerns about the process used to set the compensation.

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Moynihan earned $35 million for last year, an increase of roughly 21%. The company's board credited him with growing its net income 2.3% last year and boosting revenue 3.4%.
On U.S. plans to impose tariffs on trading partners, Moynihan said any impact on the bank will be indirect - on how a trade war affects the economy.
"The impact on our bank will be through the economic impact of a trade war... so if you believe that consumption falls and that results in reductions in force of employees and unemployment rate would go up," he said.
The administration of President Donald ...
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