Bank of America CEO Says Consumer Spending, Credit Remain Healthy

08:00 PM EDT, 09/09/2026 (MT Newswires) -- Bank of America Corp (BAC) CEO Brian Moynihan said the bank's data shows consumer spending and credit remain healthy despite rising gasoline prices, CNBC reported Wednesday, citing Moynihan's comments on the network's "Mad Money." Consumers spent about 4% more in August than a year earlier, down from 5% growth last quarter, which is "consistent with a strong growing economy," Moynihan said, according to the report. "Everything we see is fine," Moynihan said, adding that "credit statistics are as good as they've been for years," the report said. Moynihan pushed back on concerns about record credit-card balances, saying the increase looks less alarming compared with growth of the overall economy, and noted businesses continue to borrow, invest and use credit lines, though higher rates have raised costs particularly for small and midsize businesses, according to the report.