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.
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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.
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.
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.
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.
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.
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
US Biggest Banks Teams Up to Take On Apple and PayPal
The largest US banks are joining forces to create a digital wallet.
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
Major Banks Work Out Reimbursement Scheme for Zelle Fraud
To boost security and consumer trust in Zelle, America’s largest banks are developing a compensation plan for customers falling victim to scams
SEC could charge $1 billion over bankers’ WhatsApp messages
SEC is investigating the cell phone use of Wall Street executives and employees: private messages should not discuss investment terms, client meetings and other business
Rich Americans Keep Borrowing Despite Rising Rates
Bank of America and Morgan Stanley registered significant growth in loans to wealth-management customers in the first half of the year
Top 7 banks for young adults
There are some bright examples of financial institutions that know exactly what young adults want
Bank of America introduced a fraud prevention tool
The bank aims to assist clients with fraud prevention
Bank of America expands its digital B2C payment offerings
Pay to Card is expected to process payments to around 170 countries in over 120 currencies
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