Big banks have been busy trying to repair themselves, and make money, in this post-financial-crisis era of more regulation and less economic growth. To better understand the challenges banks face, Dennis Berman, financial editor of The Wall Street Journal, spoke with Brian Moynihan, chairman and chief executive of Bank of America. Edited excerpts of their conversation follow.

WSJ: It felt like banks were more resilient at the beginning of this year. Why isn't the investing community coming around to that view?