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Tag: Bank of America


Products, Retail Banking

Bank of America hails surge in mobile P2P payments

August 22, 2019

Via: Finextra

The bank says that in the first nine months, Zelle users sent and received a total of 163 million transactions, compared to 157 million transactions throughout 2018. As people increasingly turn to cashless solutions to move and manage their money, […]


Activity, Corporate Banking

BofA terminates First Data partnership/JPM Chase closes collaboration with OnDeck

July 31, 2019

Via: Finextra

The news came within hours of Fiserv acquiring control of First Data, sending its shares downward. BofA says it expects to incur an impairment charge of about $1.7 billion to $2.1 billion in Q3 2019 due to the termination of […]


Capital and Risk, Macroeconomic

Strong consumer spending vs. weak business investment: What really matters for the US economy

July 26, 2019

Via: CNBC

U.S. consumer spending, the biggest part of the economy, saved the day for the record-long expansion, but a big decline in business investments raised concerns about how much longer it can last. Personal consumption expenditures rose 4.3% in the second […]


Activity, Trading

Stocks making the biggest moves premarket: Bank of America, United Airlines, Amazon, CSX & more

July 17, 2019

Via: CNBC

Bank of America – The bank reported quarterly profit of 74 cents per share, beating consensus by 3 cents a share. Revenue was just above forecasts, with the bank’s results helped in part by stronger retail banking performance. Net interest […]


Activity, Investment Banking

Bank of America beats analysts’ profit estimates on retail banking strength

July 17, 2019

Via: CNBC

Bank of America on Wednesday posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. The lender said it generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, […]


Activity, Investment Banking

Bank Earnings: Three Things to Know on Citi, JPM, Bank of America

July 15, 2019

Via: TheStreet

The big banks are kicking off earnings season, and while Citi (C – Get Report) did so with a bang there are some particular factors to watch for in the rest of the earnings reports. Citigroup Citi beat analyst’s estimates […]


Activity, Investment Banking

Stock-market investors haven’t been this bearish since the 2008 financial crisis, says Bank of America

June 18, 2019

Via: Market Watch

The S&P 500 index stands less than 1% shy of a record but investors aren’t loving the climb, based on a recent fund manager survey from Bank of America Merrill Lynch. The survey of 179 global managers overseeing some half […]


Products, Retail Banking

Bank of America chatbot logs 50 million requests in first year

May 29, 2019

Via: Finextra

Since its nationwide rollout in June 2018, Erica has: Completed over 50 million client requests – from everyday banking activities to more complex tasks – through the latest in artificial intelligence (AI), predictive analytics and natural language processing. Been engaged […]


Capital and Risk, Macroeconomic

Auto-Dealer Lots Are Full of SUVs and That’s Bad for the U.S. Economy

May 29, 2019

Via: TheStreet

Big automakers like Ford (F – Get Report) and General Motors (GM – Get Report) have been cranking out light trucks and SUVs over the past year at a record rate of 8 million annually. But sales haven’t kept up, […]


Activity, Trading

Bank of America shares slump despite record profit after CFO cites slowing interest growth

April 16, 2019

Via: CNBC

Bank of America shares dropped Tuesday after executives said the lender’s net interest income growth was falling because of declining interest rates and a slowing U.S. economy. Despite posting a record first-quarter profit driven by cost cuts and strength in […]