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Bank of America wades into payday loans business

October 8, 2020

Via: Finextra

Bank of America today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500.

Balance Assist is the latest offering in a comprehensive selection of financial solutions and services designed to help clients bank confidently and improve their financial lives.

“Balance Assist is the latest in a powerful set of transparent, easy-to-use solutions to help our clients budget, save, spend and borrow carefully and confidently,” said D. Steve Boland, president of Retail at Bank of America. “People want the power to achieve financial freedom and stability, and are seeking simple, clear solutions and advice to help them along the way.”

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