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TheStreet Open House

Bank of America's Small Business Spin

Bank of America also notes in Wednesday's press release that "in October 2010, Bank of America announced the addition of approximately 1,000 new small business bankers throughout the U.S. by early 2012 to provide counsel and guidance to local small business owners."

However, in September of this year, CEO Brian Moynihan said the bank would cut "approximately 30,000 jobs over the next few years."

Bank of America spokesman George wrote that Bank of America has hired 550 small business bankers so far and still plans to reach 1000 by early 2012.

"These are all new hires, and we have not laid off any Small Business Bankers since announcing this plan," George wrote, adding the bank will continue to hire where it sees "growth opportunities."

According to George, Bank of America is supporting small business in other ways. For example, it is "among 13 banks that have pledged to the White House and the U.S. Small Business Administration to increase small business lending by a total of $20 billion over the next three years."

Given Bank of America's facility with numbers, that should be a piece of cake.

-- Written by Dan Freed in New York. Follow me on twitter.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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