Fourth-quarter net interest income rose 11% from a year earlier to $11.4 billion at Bank of America, though its average loan balances edged up just 1% over the same period.

This past year has proven that traditional leadership models will not take us forward. Attracting and retaining talent, especially diverse talent, depends on how well we listen to and understand the many changes in what employees value.

Many insiders are wondering about a contingent of senior executives who oversee some of the pillars of the Wall Street powerhouse that Tom Montag helped build: dealmaking, trading and commercial banking.

Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane will step down at the end of the year. The company said it will unveil succession plans in the coming weeks.

Bank of America is adding a commercial credit card for on-the-go businesspeople in a bet that work travel will eventually return.

The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.

Bank of America expects interest income to rise as stronger borrowing outweighs the impact of low rates. The upbeat forecast is in contrast with remarks from JPMorgan Chase executives.

The company fell short of net interest income projections as loans and leases in the consumer banking unit dropped 12% from a year earlier. However, loan balances grew from the first quarter — the first sequential increase in a year.

Bank of America created a new team dedicated to researching cryptocurrencies, marking Wall Street’s latest push to capitalize on investors’ frenzy for digital assets.

U.S. retail customers who said their primary bank met their needs for guidance gave it much higher grades, according to J.D. Power’s annual survey.

Bank of America, JPMorgan Chase and United Wholesale Mortgage are among the financial companies teaching employees and recruits technology skills to take on new roles and get better in their current ones.

Bank of America joined JPMorgan Chase and Wells Fargo in making Juneteenth a bank holiday starting next year after President Biden signed the June 19 federal holiday into law to commemorate the end of slavery in the U.S.

The Charlotte, North Carolina-based bank is adding three branches in Lexington, with plans for a fourth next year.

The bank is shortening the time for deposit availability in the hope of serving use cases like gig economy workers and disaster relief.

Even though industry economists and Federal Reserve officials expect the recent price surge to wane, some big-bank executives are expressing concern about the risk of an inflationary spiral hindering the recovery from the pandemic recession.

Online and mobile banking traffic at Bank of America soared in the last year, including a 60% spike in the use of its virtual assistant Erica. David Tyrie, the company's head of digital, wants to keep driving adoption by pitching financial planning tools to millennials and Gen Z.

Bank of America was ordered by a judge to change its practices after thousands of unemployed California customers receiving public benefits complained that when their prepaid debit cards were hacked, the bank made matters worse by treating them like criminals.

“Our goal is by after Labor Day to effectively be back to where we were in January of 2020,” Chief Executive Brian Moynihan said.

Share buyback programs, shelved by many banks last year amid pressure from regulators to preserve capital, are back in vogue, with three dozen banks announcing such plans in April alone.

The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15.