The warning from the state's chief financial officer comes after a new law was passed banning banks from holding public funds if they use social and political factors in lending decisions.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.

The bank was one of the last major holdouts to bow to expense pressures that have left no one immune.

Bank of America Chief Executive Brian Moynihan's total compensation declined 6.3% to $30 million for his work in 2022, a year in which profit tumbled and the shares sank.

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.

Bank of America, the biggest corporate issuer of bonds tied to environmental, social and governance financing in the U.S., returned to the ethical debt market for the first time this year as Wall Street giants dial back issuance amid skyrocketing borrowing costs.

Polyanna Unruh embraced her employer's tuition-assistance benefit to go from high-school graduate to MBA.

Bank of America has told its global markets employees that they're required to be in the office almost every day as the Wall Street firm seeks to restore some of the culture that prevailed before the pandemic.

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.

Bank of America outlined a series of next steps for the thousands of employees returning to its offices globally, as it seeks to cement its post-pandemic approach to work.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

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.

After 40 years on the job, Catherine "Cathy" Pombier Bessant is well ensconced among the sparse but growing ranks of senior stateswomen in finance. Bank of America's global technology and operations executive for 12 years and its vice chair of global strategy since September 2021, Bessant has topped American Banker's list of the Most Powerful Women in Banking three years in a row, from 2017 to 2019, and was inducted into AB's Hall of Fame in 2020.

As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected five "Top Teams" for 2022. Bank of America is one of the team honorees.

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.

Candace Browning, long a leading voice in investment research, added a notable area to the stable of sectors her team covers: digital assets. A research report, Digital Assets Primer: Only the First Inning, formally launched the bank's digital asset research practice last October.

Katy Knox began her career in 1986 at Fleet Bank in Boston. Unsurprisingly, she is a proud Patriots, Red Sox, Celtics and Bruins fan. With more than 35 years of experience in financial services, including commercial banking, corporate strategy, global treasury management and consumer banking, Knox has watched the industry change.

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