The bank's purchase of AxiaMed gives it a digital gateway to the medical industry, speeding deployment amid growing competition.

Bank of America acquired the health care technology company Axia Technologies as the financial giant continues to build out its products for helping merchants take payments.

Virtual training and orientation, including any licensing needed, will begin in July for the bank’s campus hires, with the aim of having new employees at offices in October, Bank of America said.

Bank of America said Tuesday that it would up its initial commitment from $1 billion to $1.25 billion and would increase support in Asian American communities, where violence and incidents of harassment have risen sharply during the COVID-19 pandemic.

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

The two banks are pushing back against shareholder requests for sweeping audits of how they handle racial equity as the industry faces mounting public scrutiny of its historic role in economic disparities.

Bank of America Chief Executive Brian Moynihan said the company is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup.

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners.

Bank of America cut some of its staff in the global banking and markets division this week. The latest cuts mark an end to BofA's pledge not to eliminate any jobs in 2020 as the global pandemic flared.

A survey commissioned by Bank of America found that Black entrepreneurs are more hopeful about revenue opportunities than other small-business owners, though many are still struggling to bring in the capital needed to expand.

Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy.

Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from environmentalists?

Anger is building in the senior ranks at Bank of America after the company waived an unpopular new bonus policy for top traders and dealmakers while keeping the plan in place for other employees.

Bank of America pledged to add $10 billion to an affordable homeownership program through 2025, tripling its initial commitment.

About 70% of Bank of America's customers are now “digitally active” and 17 million people use Erica, its virtual assistant. David Tyrie, who was recently promoted to head of digital, would like to get that rate up to 100%.

Bank of America scrapped a proposed bonus policy this week after it provoked the ire of high-earning traders and dealmakers, some of whom could have missed out on a big chunk of their compensation.

The three banks have joined others in a program endorsed by The Clearing House that aims to make data-sharing agreements with aggregators like Plaid and Finicity work more effectively.

“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said.

Bank of America will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from CEO Brian Moynihan.

Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts' $3.15 billion forecast. The division, helmed by Jim DeMare, was hurt by unexpected weakness in fixed-income trading.