Bank of America
Bank of America
Bank of America Corp is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
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Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless.
April 12 -
The bank says its partnership with Lender Price will help streamline and simplify its home loan process.
April 12 -
Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.
April 11 -
Bank of America plans to stop lending to companies that make assault-style guns used for nonmilitary purposes.
April 10 -
AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.
April 10 -
Cathy Bessant, chief operations and technology officer at Bank of America, shares her thoughts on how companies can prevent human foibles and biases from creeping into their software and the need to build an ethical framework for AI software development and use.
April 5 -
Rep. Maxine Waters, D-Calif., questioned Bank of America's decision to discontinue free online checking accounts used by many low-income consumers in light of the bank's recent profits and corporate tax cuts.
April 4 -
New York state's pension funds are urging credit card companies to consider following Citigroup's lead in cracking down on gun sellers.
April 4 -
Despite increased bank and investor activity around digital P2P payments, consumers haven't flocked to P2P in expected numbers.
April 3 -
The bank is providing Merrill Edge's do-it-yourself clients with more automated stock and portfolio research, but it plans to hire more financial representatives for those who want in-person advice in branches.
March 29