Morning Scan: B of A Fights Effort to Strip Moynihan; Bank Stocks Ta...

Wall Street Journal

Bank of America is fighting back against the effort to strip CEO Brian Moynihan of his chairman title. The struggle between Moynihan and shareholder groups to keep the two roles separate isn't new; JPMorgan Chase's Jamie Dimon mounted a successful defense in 2013.

What makes Moynihan's situation different is how B of A handled it. Activist investors, proxy advisory firms and institutional investors like the California Public Employees' Retirement System want to yank the...