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Will Bank of America Abandon Its Promises?

By David Hanson and Matt Koppenheffer - Apr 18, 2013 at 8:09AM

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Bank of America appears to be on track to achieve its cost-saving goals, but will the bank ultimately break its promises?

When Bank of America (BAC 0.95%) CEO Brian Moynihan launched Project New BAC, a cost-saving initiative, many investors saw the goal of cutting $8 billion of expense by the middle of 2015 as too ambitious. However, as the bank marches through 2013, Moynihan and team are telling investors that the bank is on track to achieve those goals.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer debate whether the bank will ultimately achieve these goals and if its a bad thing for investors if they fall short. 

 

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