Board fires Pres of BOA

[snafu]

Did I read it right? I believe Shareholders of Bank of America asked for the resignation of the Bank's President, Lewis. There have been so many posters unhappy with BOA's actions.

President Obama mentioned his displeasure with the actions taken by banks against their customers charging fees, abruptly decreasing credit limits and increasing interest rates at a time when the interest rates have been dropping...in today's press conference. Seems someone's listening.

[Seeker]

He's still CEO for now anyway.

Seems like the reasons vary, but part of it has to do with Merrill Lynch, Countrywide and other decisions made. CalPERS is not too happy right now either.

Lewis out as Bank of America chairman, remains CEO

[wincrasher]

What they did was separate the offices of Chairman and CEO. A good move. Lewis is still valued by the board - he'll be more effective as CEO.