Bank of America Corp., pressured by the U.S. Treasury Department to justify executive perks after receiving a taxpayer-funded bailout, said the firm doesn’t need to impose new constraints on employee use of company aircraft.
The lender encourages use of its corporate aircraft for business travel for “safety and efficiency reasons” and doesn’t plan a new pre-approval or reporting process for such transport, the Charlotte, North Carolina-based company said on its Web site Sept. 11. “Use outside of reasonable business development or associate safety would be considered excessive and not allowed,” the firm said.
Read more about Bank of America’s company jets…
