Bank of America, JPMorgan Chase and other institutions — including more than two-thirds of honorees that made the Best Banks to Work For — show no let-up in their commitment to add transitioning service personnel. In fact, they're expanding their reach to include military spouses.

Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.

The bank is adding forecasting to its Intelligent Receivables product, which uses artificial intelligence to match business customers' incoming cash to open invoices.

The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.

For Elif Zapparoli, the pandemic-era shift from in-person to remote work is similar to the trend she has seen in the financial services industry over the last 20 years.

As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected five Top Teams for 2022.

Since it began using virtual reality to instruct employees one year ago, BofA has expanded its use of the technology for challenges that require split-second decisions.

The bank received 341 technology patents in the first half of the year and says it has more patents than any other financial services company. However, executives have acknowledged that they aren't all usable.

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

Education in financial literacy instills both know-how and confidence, knowledge most teens lack when transitioning into adulthood.

More than 250 midsize and large companies that do business with BofA have signed up for its corporate employee banking and investing program, which pulls double duty as a retention tool for the companies and a customer-growth engine for the bank. The initiative is part of a wave of such offerings by regional and large banks.

Bank of America officials say the boost to loan income from rising rates combined with its overhaul of its loan book since the financial crisis will help it weather any potential economic challenges ahead. Analysts had a lot of questions about the bank’s reasoning.

Bank-issued prepaid benefits cards were supposed to help state governments deliver these funds more efficiently. But the pandemic scrambled the economics of these programs.

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.

Customers are ramping up borrowing just as interest rates are poised to rise. That combination “sets us up nicely for 2022,” says CEO Brian Moynihan.