Bank Of America Chief Makes Presence Felt In Washington (BAC)

The Wall Street Journal reports that Brian Moynihan, CEO of Bank of America (NYSE: BAC), is spending a lot of time in Washington, almost as much as in the bank’s headquarter city of Charlotte, N.C.

Moynihan met up with Fed Reserve Chairman Ben Bernanke as well as Treasure Secy Tim Geithner and John Dugan, the Comptroller of the Currency, among others. Mr. Moynihan had come to the capital for a hearing before a Congressional Panel on the financial crisis, when he met up with officials on federal aid repayment matters.

This is a departure from Bank of America’s traditional stance of being indifferent to defiant but rarely cordial vis-à-vis Washington and regulators. "Brian wants Bank of America to be a part of the solution to the economic challenges facing the country," says James Mahoney, a Bank of America spokesman. "We have a lot of resources and expertise that he wants to bring to bear in tandem with policy makers in Washington. If the economy grows, we grow. It's pretty straightforward."