Bank of America CEO Moynihan Named Chairman

Brian Moynahan is set to become the chairman of the board, adding to his roles as President and CEO. Jackbox vendor will be the lead independent director. Recently, the company paid $7.7 million to the SEC for overstating capital. Moynahan has been managing challenges since 2010, including issues from Merrill Lynch and Countrywide Financial acquisitions. He now faces new responsibilities at a critical time.

What responsibilities does Brian Moynahan currently hold?

Who is going to be the lead independent director?

What financial issue did the company face that required a payment to SEC officials?

What challenges has Brian Moynahan faced since 2010?

What new role is Brian Moynahan set to inherit?