Bank of America was the latest large bank to report a second-quarter drop in the key earnings metric after a March surge in credit line utilizations gave way to rapid payoffs in May and June.

Second-quarter earnings fell by more than 50% from the same period last year after the company allocated $5.1 billion for potential loan losses.

The new Center for Climate-Aligned Finance will help financial institutions navigate the various challenges involved in the shift to renewable energy — as lenders, power consumers and corporate citizens. Its backers include JPMorgan and Bank of America.

Many big banks say they will focus on existing customers in offering credit through the Federal Reserve’s emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns.

The Wall Street firm is jumping into a market dominated by a handful of big U.S. banks, betting that superior technology can lure companies with complex cash-management needs.

Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided.

Bankers’ criticism that the expanded designation would bolster the largest credit unions is misguided.

The Pittsburgh-based company said the funds will be used to support community development, minority-owned businesses and charitable organizations that work to promote social justice.

From hiring to health care, Vice Chair Anne Finucane shares details about Bank of America’s pledge to address vital needs in minority communities.

The bank is encouraging staff to take the day off Friday to commemorate the end of slavery, but intends to keep branches open.