Tag: Bank of America

February 10, 2022

Warren Buffett’s best-performing stock last year? One he’s been dumping. Wells Fargo shares delivered a total return of 61% last year, outpacing every other company listed in the most recent public snapshot of Berkshire Hathaway’s portfolio, as of Sept. 30, […]

January 11, 2022

Bank of America’s decision to slash its overdraft fee from $35 to $10 is likely to have ripple effects across the industry, analysts said, pressuring other banks to follow suit. On its face, the megabank’s announcement Tuesday appeared less aggressive […]

November 1, 2021

The J.D. Power survey included responses gathered between June and August from 7,327 small-business owners and “financial decision-makers.” The research firm found customer satisfaction ranked 13 points higher, on average — 829, among customers of national banks, as opposed to […]

October 6, 2021

If Bank of America reaches its $25-per-hour target on time, it will have bumped up its minimum wage by nearly $14, an hour since 2010, the bank said. Wednesday’s raise, effective date undisclosed, marks Bank of America’s first minimum compensation […]

May 18, 2021

Bank of America CEO Brian Moynihan said the increase will cost the bank “a few hundred million dollars a year” but called the move “an investment.” Moynihan told CNN it’s about maintaining a “great standard of living for our teammates.” […]

May 17, 2021

U.S. banks with more than $1 billion in assets took in a combined $11.68 billion in overdraft fees in 2019, the Center for Responsible Lending (CRL) found in June 2020. Bank of America’s five-year moratorium of retry fees is expected […]

May 5, 2021

As the White House attempts to sell President Joe Biden’s multitrillion-dollar rescue and recovery plans across the country, Vice President Kamala Harris is taking on a leading role as an ambassador to small businesses, particularly in underrepresented communities. On Wednesday, […]

April 13, 2021

Digital payments have clearly been catching on with the annual volume climbing by more than a billion annually in each of the past six years and the annual value growing by more than $1 trillion in each of the last […]

March 31, 2021

Wells Fargo is setting its sights on a September office return, CEO Charlie Scharf and Chief Operating Officer Scott Powell told employees in a memo Tuesday. “We are encouraged by the significant increase in vaccination availability and have started to […]

March 8, 2021

The Senate on Saturday passed the Democrats’ $1.9 trillion stimulus bill without a single Republican vote. This week, the House plans to take up the Senate bill, to avoid further negotiations. White House Communications Director Kate Bedingfield, speaking to CNN’s […]

January 22, 2021

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 […]

December 10, 2020

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 […]

December 8, 2020

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 […]

December 7, 2020

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 […]

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 […]

October 9, 2020

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 […]

October 8, 2020

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 […]

October 7, 2020

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 […]

September 23, 2020

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 […]

August 10, 2020

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 […]