Bank of America

Bank of America, we have a clear purpose to help make financial lives better through the power of every connection. We fulfill this purpose through our commitment to responsible growth, which includes a focus on environmental, social and governance (ESG) leadership. Integrated across our eight lines of business — our ESG focus reflects our values, ensures we are holding ourselves accountable, presents tremendous business opportunity, and allows us to create shared success with our clients and communities.

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Bank of America Sees Slowing Credit and Debit Card Spend
Bank of America Sees Slowing Credit and Debit Card Spend
April 12, 2023  |  Economy

Household credit and debit card spending increased 0.1% in March compared to a year earlier. That is the slowest pace of card spending growth seen...

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Banks That Backed First Republic Set Aside $100 Million Reserves
Banks That Backed First Republic Set Aside $100 Million Reserves
April 12, 2023  |  Banking

America’s biggest banks are reportedly setting aside cash in anticipation of first-quarter losses. The banking giants that helped shore up struggling First Republic Bank with...

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Big Banks Earnings Projected to Show $100 Billion in Withdrawals
Big Banks Earnings Projected to Show $100 Billion in Withdrawals
April 11, 2023  |  Banking

America’s banking giants are expected to reveal a huge outflow of cash in the days ahead. As the Financial Times (FT) reported Tuesday (April 11),...

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Feds Want Big Banks to Pay $23 Billion SVB Collapse Bill
Feds Want Big Banks to Pay $23 Billion SVB Collapse Bill
March 30, 2023  |  Banking

Regulators want America’s biggest banks to help cover the cost of the recent banking crisis. The Federal Deposit Insurance Corp. (FDIC) is weighing the idea...

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Zelle Operator Readies Summer Rollout of Paze Digital Wallet
Zelle Operator Readies Summer Rollout of Paze Digital Wallet
March 28, 2023  |  Mobile Wallets

Early Warning Services, operator of the Zelle money transfer system, is piloting a digital wallet called Paze to compete with digital wallets from Big Tech....

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Digital Disbursements and Payouts Chip Away at Killing the Check
Digital Disbursements and Payouts Chip Away at Killing the Check
March 28, 2023  |  Digital Payments

With paper check fraud reportedly doubling in 2022, the need for digital disbursement options has never been more urgent — or more desired by consumers, many of...

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Bank of America Reshuffles Lending Unit Employees
Bank of America Reshuffles Lending Unit Employees
March 24, 2023  |  Banking

Bank of America has reportedly shifted some employees from its wealth management and lending unit. Fewer than 200 employees were moved out of the unit,...

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Bank-Owned Travel Portals Proliferate as Banks and Cardholders Seek Direct Relationships
Bank-Owned Travel Portals Proliferate as Banks and Cardholders Seek Direct Relationships
March 21, 2023  |  Loyalty & Rewards

Decades of earning miles and points for booking travel on various credit cards has led to the inevitable rise of bank-owned travel portals to use...

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JPMorgan and Other Banks Reportedly Eye Expanding First Republic Support
JPMorgan and Other Banks Reportedly Eye Expanding First Republic Support
March 20, 2023  |  Digital Banking

Big banks are reportedly considering expanding their efforts to support First Republic Bank. After 11 banks deposited $30 billion into the bank Thursday (March 16), they...

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