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.
Bank of America has reported an increase in the number of customers of this financial institution who delay credit card payments.
Bank of America announced the expansion of requirements for its SafeBalance settlement account plan.
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.
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.
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.
Bank of America uses artificial intelligence, Metaverse, and virtual reality to train 2,000 of its new employees as part of an immersive program.
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.
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.
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.
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.
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.
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.
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
The largest US banks are joining forces to create a digital wallet.
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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