CT One of States Targeted in Bank of America Solar Initiative
Connecticut is one of several states Bank of America will target in 2019 for its expanding environmental Onsite Solar initiative.
Bank of America to Raise Hourly Minimum Wage to $20
Bank of America plans to raise its starting pay to $20 an hour over a two-year period, the bank said Tuesday, starting with a hike next month.
Bank of America Profit Beats on Lower Costs, Loan Growth
Bank of America Corp. reported a better-than-expected rise in quarterly profit on Monday as the second-largest U.S. lender benefited from cost cuts, while higher interest rates and loan growth helped offset weaker bond trading revenue.
Bank of America Restricts Trading in Penny Stocks
Bank of America is placing trading restrictions on penny stocks as part of a policy change aimed at shielding clients from risky assets, the Wall Street bank said on Friday.
U.S. Prepaid Card Market Overview: The New Bank Account
Prepaid products are now a common payment option for consumers and businesses looking for alternative ways to spend, save and disburse funds.
BofA’s Merrill Admits Misleading Customers, to Pay $42M SEC Fine
Bank of America Corp.’s Merrill Lynch unit admitted to misleading brokerage customers about which firms processed their trades and agreed to pay a $42 million fine under a settlement with the U.S. Securities and Exchange Commission announced on Tuesday.
BofA Executive Sees Consumer Unit’s Efficiency Ratio Flat to Down
Bank of America Corp.’s co-head of consumer and business banking said on Tuesday he expects the consumer banking unit’s efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
BofA Unveils First Widely Available AI Virtual Financial Assistant
Amazon has Alexa and now Bank of America has Erica.
Bank of America’s Loan to Remington Tests its Firearms Pledge
Bank of America Corp. is preparing to provide critical financing to Remington Outdoor Co., which makes assault-type rifles, just weeks after the U.S. bank said it would stop financing “military-style” firearms for civilians.
BofA to Open 500 New US Branches in Four Years
Bank of America Corp. said it plans to open more than 500 new branches across the United States over the next four years, as the bank continues to invest in physical and digital enhancements. The Charlotte, North Carolina-based lender said the latest push includes a...
Bank of America Takes Aim at Gun-Making Clients
Bank of America Corp. on Saturday became the latest financial heavyweight to take aim at gunmakers, saying it would ask clients who make assault rifles how they can help end mass shootings like last week’s massacre at a Florida high school.
BofA Ends Checking Account Popular Among Low-Income Customers
Bank of America will end free checking accounts that were popular among some lower-income customers.
BofA Net Profit Slumps on $2.9B Tax Charge, Adjusted Income Beats Estimates
Bank of America Corp.’s net profit nearly halved compared with a year earlier as it booked a $2.9 billion charge stemming from the new federal tax law, although it beat analysts’ estimates when adjusted for the charge.
BofA Gains New Market President in Hartford
Joe Gianni will succeed Kevin Cunningham as Bank of America market president and the company’s enterprise leader in Hartford.
Impact On Banks From Britain’s Vote To Leave The EU
Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country’s planned exit from the European Union.
Chelsea Groton Hires New Assistant VP, Sales Manager
Jean McGran has joined Chelsea Groton Bank as a new assistant vice president and regional sales and service manager.
BofA Pushes For Lower Mortgage Down Payments
The head of Bank of America said in a statement banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent.
Philadelphia Sues Wells Fargo, Alleges Predatory Lending
The city of Philadelphia sued Wells Fargo & Co. on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act.
KeyBank Hires Relationship Manager For Local Market
David Cabezas has joined KeyBank as relationship manager for its Connecticut and Western Massachusetts market. Based in New Haven, Cabezas is responsible for expanding and servicing Key’s middle market client relationships in the region.
Bank Of America Shareholders Revive Chairman Debate
Bank of America Corp. Chairman and CEO Brian Moynihan will once again face a shareholder vote on whether he should maintain both roles, according to the bank’s proxy filing on Wednesday.
