Bank of America News & Media

Bank of America saw 23.4B digital interactions in 2023

February 23, 2024

Bank of America saw more than 23.4 billion digital interactions on its platforms in 2023, an 11% increase year-over-year. These included 10.6 billion proactive…

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Bank of America launches partnership with Starbucks

February 22, 2024

Bank of America has partnered with Starbucks to link its cardholders to Starbucks Rewards. With this partnership, members can earn 2% cash back on top of…

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Bank of America sees growth in employee banking program

February 16, 2024

Bank of America announced more than 450 corporate and commercial customers have enrolled in its Employee Banking and Investing program, which now offers almost…

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Bank of America intros car shopping digital tools

December 1, 2023

Bank of America introduced tools for customers looking to purchase and finance a car. Customers can get prequalified for financing without impacting their…

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Bank of America expects soft economic landing in 2024 despite uncertainty

November 29, 2023

Bank of America Global Research economists and strategists predict that disinflation will continue into 2024 and expect rate cuts to begin midway through the…

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Bank of America expands funding for Veteran Loan Fund

November 13, 2023

Bank of America provided $10 million as an additional funding round for the Veteran Loan Fund, doubling its existing two-year commitment, which has funded more…

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Bank of America announces rewards day

November 1, 2023

Bank of America announced its More Rewards Day to be held on Nov. 9. During this day, credit cardholders will earn extra rewards on purchases, according to a…

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What's new in branch design?

by Bradley Cooper — Editor, Connect Media

Digital banking is important, but branches also have a role to play. A panel at the Bank Customer Experience Summit in Charlotte, North Carolina took a look at…

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Bank of America's inventors reach 7,000 employees

September 26, 2023

Bank of America announced its inventor base now consists of 7,000 employees globally. These employees have helped Bank of America obtain more than 6,10…

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Bank of America expands maintenance fee waivers

September 25, 2023

Bank of America has expanded its monthly maintenance fee waiver criteria for its SafeBalance account. Accounts that maintain a minimum daily balance of $500 or…

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Bank of America boosts CashPro AI chatbot, intros supply chain service

September 19, 2023

Bank of America improved its chatbot CashPro Chat with propriety AI and machine learning that is also used with its virtual financial assistant Erica. Business…

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Bank of America intros global digital disbursements to Canadian customers

September 15, 2023

Bank of America introduced its Global Digital Disbursements for commercial clients in Canada. This service processes B2C payments and C2B collections using an…

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Bank of America ATM technician robbed in Washington

August 31, 2023

The Clark County, Washington Sheriff's Office is investigating a robbery at a Bank of America, where two men allegedly stole a large amount of money from a…

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Fitch warns of possible bank downgrade

August 15, 2023

Fitch Ratings has warned that banks, including JPMorgan Chase, may face ratings downgrades. It reduced its overall assessment of the banking industry's health…

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Bank Customer Experience Summit to examine future of branches

by Bradley Cooper — Editor, Connect Media

Banks are dramatically changing their branch strategies, from shutdowns to redesigns. The Bank Customer Experience Summit will look at the cutting edge of…

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Bank of America boosts dividend

July 27, 2023

Bank of America has announced a regular quarterly cash dividend of $0.24 per share up from 2 cents from the previous quarter. The dividend will be payable on…

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FDIC calls out banks for incorrect uninsured deposit statements

July 25, 2023

The Federal Deposit Insurance Corp. has called out banks for containing incorrect data on financial statements. The statements showed lower uninsured deposits…

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Big banks post healthy profits following SVB collapse

July 19, 2023

Big banks have begun releasing earnings this quarter, and so far have seen healthy profit margins despite the collapse of Silicon Valley Bank, Signature Bank…

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Bank customers report rise in sudden account closures

July 18, 2023

Many bank customers are reporting their accounts are being shut down without warning, and when they attempt to get an explanation, they have little success.

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Bank of America chatbot Erica sees more than 1.5B interactions

July 17, 2023

Bank of America's chatbot Erica has had more than 1.5 billion interactions with customers since its launch in 2018. Customers in 2023 have used Erica 33…

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