Bank of America

News

Bank of America CEO Expects Soft Landing for Economy

Brian Moynihan, Chairman and Chief Executive Officer of Bank of America, said that, in his opinion, the economic system of the United States is currently on the path to a soft landing and noted that a potential recession scenario probably will not become a reality.

Finance & Economics

Bank of America Reports Rise in Delinquency Rates

Bank of America has reported an increase in the number of customers of this financial institution who delay credit card payments.

News

Bank of America Expands SafeBalance

Bank of America announced the expansion of requirements for its SafeBalance settlement account plan.

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Bank of America Announces Expansion to Its Customized Cash Rewards Credit Card

Bank of America (BoA) announced the expansion of the use scale of its Customized Cash Rewards credit card, which provides owners with additional benefits and opportunities when receiving cashback in several categories.

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Bank of America Says About Importance of Transcontinental Transparency for Cross-Border Payments

Isabel Baransky, director of Global transactional services at Bank of America and head of automatic conversion products in transactional currency payments, said that the lack of transparency is the most characteristic feature of the current state of cross-border payments.

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Bank of America CEO Says New Capital Requirements Must Ensure Level Playing Field

Brian Moynihan, CEO of Bank of America, expressed the opinion that the new capital requirements should form a space of equal conditions for all representatives of the US banking sector.

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Bank of America Uses AI to Train New Hires

Bank of America uses artificial intelligence, Metaverse, and virtual reality to train 2,000 of its new employees as part of an immersive program.

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CFPB Fines Bank of America $250 Million Over Junk Fees

In the United States, the Consumer Financial Protection Bureau (CFPB) has imposed an obligation on Bank of America to pay more than $250 million in fines and damages to customers.

News

BofA Says Crypto Sentiment Remains Poor

The value of tokens continues to be in the zone of the negative impact of the consequences of recent measures that were introduced by regulators in relation to the sphere of cryptocurrencies.

Society & Lifestyle

Best Bank to work for in 2023

Banking is a field that offers many opportunities for professional growth, and it can be a financially rewarding and fulfilling career path. The high salaries and generous bonuses that come with the job are just some of the many benefits of working in the banking industry.

News

Bank of America’s Erica Use More Than Triples Since 2020

Brian Moynihan, CEO of Bank of America (BofA), in his earnings report for the first quarter of this year, said that each business segment showed good results during this period, as the financial giant quickly and organically developed customer relationships and accounts.

News

Bank of America Sees Slowing Credit and Debit Card Spend

In the United States, in March 2023, household spending on credit and debit cards increased by 0.1% compared to the figure recorded for the same period last year.

News

Bank of America Reshuffles Lending Unit Employees

The media reports that the management of Bank of America has decided to reduce the staff of the division of this financial institution specializing in lending and capital management.

Science & Technology

US Credit Card Debt Reaches $1 Trillion, While Delinquency Rates Rise

The New York Federal Reserve estimated that US credit card debt reached nearly $1 trillion in the fourth quarter of 2022, growing by a record $130 billion annually. The rise in delinquencies and charge-offs makes credit card issuers prepare for the worst

Finance & Economics

US Biggest Banks Teams Up to Take On Apple and PayPal

The largest US banks are joining forces to create a digital wallet.

News

US Banks to Report Profit Decline, Prepare for Recession

Major US banks are expected to show a net profit decline in their quarterly earnings reports to be released on Friday, while the industry is getting ready for an economic slowdown

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