Bank of America Corp. plans to curtail new credit cards and tighten standards for card and small-business customers, Brian Moynihan, the head of its consumer division, said last week.

Bank of America expects to issue 2.5 million credit cards this year, down from the peak of 10 million several years ago, Moynihan said Thursday at a presentation for analysts in Boston. Card balances will likely stabilize around $175 billion from a peak of $250 billion, he said.

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