The peace dividend, as he explained it to CNBC's Maria Bartiromo, appears to refer to the fact that, because Bank of America has grown largely through acquisitions and will no longer be doing them for the forseeable future, the bank will now have the ability to devote resources to "organic growth."
Acquisitions such as that of Countrywide Financial, MBNA and the biggest of all, Merrill Lynch, have "caused us a lot of work," Moynihan said. But now the work is "behind us," he said, adding that Merrill Lynch is has been "completely integrated" for several months.
Investment in technology, Moynihan told Bartiromo, is "part of the peace dividend," as is "build
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