Foreign news: Opposition to BoA joint CEO and chairman move, UK contactless payment limit increased

Two large US institutional investors have expressed their opposition to a move by the board of Bank of America to allow its chief executive Brian Moynihan to also serve as chairman, Reuters reports. BoA had a combined CEO and chairman role until 2009, when shareholders voted for a change. Now the board wants to change back. The company is holding a shareholder meeting to vote on the issue on September 22.
Card scheme operators Visa and MasterCard have raised the spending limit on contactless cards in the United Kingdom, Finextra reports. The limit went up from Â£20 to Â£30 on September 1, moving the limit closer to the average card spend of Â£46.92 per transaction. Spending on contactless cards in the UK is growing fast, increasing from Â£287 million in January to Â£567 million in June.