Tag: Bank of America

Activity, Corporate banking

Bank of America Profit Rises 30% on Tax Cuts, Interest Rates

April 16, 2018

Via: TheStreet

Bank of America Corp. (BAC) , the giant U.S. bank, said first-quarter profit surged 30% as taxes decreased following President Donald Trump’s cuts in the corporate rate, while higher interest rates boosted lending revenue. Bank of America’s net income rose […]

Activity, Investment banking

BofA to add 600 new Merrill Edge investment centres to branches

March 29, 2018

Via: Finextra

Bank of America announced today that Merrill Edge® will open 600 new investment centers within its expanding coast-to-coast financial center footprint, bringing its total to 2,800 by 2020. The effort is part of Bank of America’s previously mentioned plan to […]

Capital and risk, Credit

BofA Launches SMB Loyalty Program to Help Grow Account Balances

March 27, 2018

Via: Bank Innovation

Bank of America is opening a loyalty program for its small business clients, with the focus on growing a client’s account balance through the presence of rewards. The program, which was announced by the bank yesterday, will allow SMBs with […]

Activity, Trading

Bank of America Leads Bank-Stock Rally as China Trade Tensions Ease

March 26, 2018

Via: TheStreet

Bank of America Corp. (BAC) and other financial-company stocks rebounded from their worst week in two years, as concerns eased that the U.S. might face a full-blown trade war with China, the world’s second-largest economy. The PowerShares KBW Bank Portfolio […]

Activity, Regulations, Trading

Bank of America in $42 million settlement over ‘masking’ electronic trading activities with customers

March 23, 2018


Bank of America’s Merrill Lynch routinely misled customers by telling them billions of stock trades had been managed in-house when they were actually turned over to outside firms, part of a five-year scheme that New York’s attorney general says made […]

Activity, Investment banking

Investors have a new favorite sector as tech is dethroned

March 5, 2018


Move over, tech. Wall Street has a new favorite sector, according to fund holdings data compiled by Bank of America Merrill Lynch: consumer discretionary. The sector overtook tech as the most crowded last month, the data shows. Funds increased their […]

Capital and risk, Operational

Wells Fargo Has No Plans to Ban Cryptocurrency Purchases on Its Cards

February 23, 2018

Via: Bank Innovation

EXCLUSIVE – Wells Fargo will not be joining some of the other big banks in banning its customers from purchasing cryptocurrency with their credit/debit cards, Bank Innovation has learned. Wells Fargo, senior VP of senior vice president, design and delivery […]

Activity, Investment banking

Top U.S. Banks Are Investing Most in Personal Finance Fintechs

February 13, 2018

Via: Bank Innovation

For all buzz around cryptocurrency and blockchain technology, surprisingly, the top U.S. banks have not been investing as much in these areas as much as one might have thought. The top areas of interest for the major U.S. banks when […]

Business banking, Products

PayPal: Good News (BofA Merrill Lynch Partnership), Bad News (Bye Bye EBay)

February 2, 2018

Via: Bank Innovation

Good news and bad news for PayPal. Good news: Bank of America Merrill Lynch announced a partnership with the payments platform that enables BofA’s U.S.-based commercial clients to make payments in international payments in local currencies to payees with PayPal […]

Capital and risk, Macroeconomic

Tax cuts makes US more attractive to overseas companies, Bank of America CEO says

January 23, 2018


The tax overhaul has made the United States a more attractive business destination to overseas companies, Bank of America CEO Brian Moynihan said Tuesday. “What I don’t think people see that I’ve seen so far is not only the U.S. […]