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Finance & Economics

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.

News

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.

News

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.

News

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.

Articles

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.

Finance & Economics

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.

Reports

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

News

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

News

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

Finance & Economics

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

Reports

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

Finance & Economics

Top 7 banks for young adults

There are some bright examples of financial institutions that know exactly what young adults want