Tag: Bank of America


Raises at top 6 US banks average fraction of a percentage point

January 22, 2021

Via: Banking Dive

Employees at the nation’s six largest banks got an average raise of $271 in 2020, Bloomberg reported Thursday. Even for someone making $50,000 a year, that comes out to a pay bump of half a percentage point. And the penny […]

Capital and Risk, Operational, Products, Retail Banking

Bank of America flags 640K accounts on suspected unemployment benefits fraud

December 10, 2020

Via: Banking Dive

Bank of America issued more than 8.2 million cards holding more than $105 billion between March and November under a contract with the California Employment Development Department (EDD). After the EDD announced that nearly 350,000 of its debit cards had […]

Activity, Capital and Risk, Corporate Banking, Credit

How Bank of America’s small-business strategy laid groundwork for PPP efforts

December 8, 2020

Via: Banking Dive

As lawmakers debate a new stimulus package, including the possibility of a new tranche of Paycheck Protection Program (PPP) funding, banks that delivered large volumes of PPP loans this year may find themselves better prepared for a third rollout. For […]

Activity, Corporate Banking, Investment Banking

Morgan Stanley, JPMorgan, Bank of America diverge on bonuses

December 7, 2020

Via: Banking Dive

More often than not, when one major bank takes a stance — on any issue from environmentally conscious investing, to hiring a diverse workforce, to pandemic-induced work policies — its competitors are generally swift to follow if the move is […]

Activity, Trading

Stephen Moore: Is the Stock Market Telling Us That Trump Will Win?

October 27, 2020


Why is the stock market so high? I get asked this riddle every day. The standard answers we hear these days are that the market is anticipating another $2 trillion Donald Trump-Nancy Pelosi stimulus bill (either before or right after […]

Activity, Corporate Banking

Bank of America teams up with Black-owned Unity bank

October 9, 2020

Via: FinTech Futures

According to Black Business, BoA has acquired approximately 5% of the bank’s common equity. Its investment is aimed at offering benefits to the communities that Unity serves through services such as lending, housing, neighbourhood revitalisation, and more. “Unity remains committed […]

Capital and Risk, Credit

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 […]

Business Banking, Products

BofA launches omni-channel approach to cross-currency transactions

October 7, 2020

Via: Finextra

Bank of America is responding to the dual imperatives of cross-currency transactions – technology innovation and client demand for improved efficiency – with an omni-channel offering that now includes API (application programming interface) and mobile connectivity. “We are pleased to […]

Activity, Investment Banking

American Express Cut at Bank of America on Lower Travel Outlays

September 23, 2020

Via: TheStreet

American Express (AXP) – Get Report shares fell Wednesday after Bank of America Securities analyst Mihir Bhatia downgraded the credit card and travel services company to underperform from neutral and trimmed his share-price target to $95 from $106. “Bank of […]

Capital and Risk, Macroeconomic

Bank of America is latest Wall Street firm to pledge to Beirut relief effort, with $300,000 donation

August 10, 2020

Via: Market Watch

Bank of America has become the latest bank to pledge support for the emergency response to the massive warehouse explosion at the port of Beirut in Lebanon, which killed at least 158 people and injured more than 6000 others. In […]