Moynihan re-elected to board of trade group

Bank of America CEO Brian Moynihan has been re-elected to the supervisory board of The Clearing House, the trade group owned by the world's largest commercial banks said Tuesday.

Moynihan serves as vice chairman of the board.

Also Tuesday, The Clearing House said Richard Davis, CEO of U.S. Bancorp, has also been re-elected as chairman of the board.

Their terms are for one year.

Bruce Thompson, chief financial officer for Bank of America, will remain as vice chairman of the group's CFO Summit.