News Topic: Bank of America

She turned around troubled business units, rebounded after a demotion and beat cancer. Now Bank of America’s chief operations and technology officer is taking on her biggest challenge yet: ensuring AI is used responsibly. ... Read full article

The once-acquisitive company is not interested in a "roll-up strategy" in Texas's biggest city, said CEO Phil Green. In a Q&A, he also explained why loan competition is intensifying and what's really keeping business customers up at ... Read full article

The revised trading rule is seen as a credit negative for banking industry. ... Read full article

Cathy Bessant, Bank of America's chief operations officer and American Banker's Most Powerful Woman in Banking, has undertaken major initiatives outside her institution, including a focus on responsible AI. ... Read full article

The consumer agency is investigating Bank of America over “potentially unauthorized” accounts; why fintech rollouts are magnets for fraud; KeyCorp’s Beth Mooney to retire next year; and more from this week’s most-read stories. ... Read full article

There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era. ... Read full article

During a probe that grew out of the Wells Fargo scandal, the Charlotte-based bank has acknowledged instances of "potentially unauthorized" accounts, but said that the number of examples was "vanishingly small." ... Read full article

Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology. ... Read full article

The FDIC's latest report on deposit market share shows the nation's seven biggest banks flexing their muscles, while smaller banks' market share gets smaller. ... Read full article

The Democratic presidential candidate said on Twitter that credit cards "have enabled many of America’s mass shootings." ... Read full article

Mnuchin hopes to strike a deal soon to recapitalize the two mortgage giants, a prelude to privatization; the bank’s focus on mid-tier corporations is starting to bear fruit. ... Read full article

Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders. ... Read full article

Bank of America is building up its teams focused on the world's wealthiest family offices, buyout firms and sovereign wealth funds to take advantage of a surge in dealmaking. ... Read full article

Citigroup quietly boosted its minimum wage to $15 an hour in June, joining competitors in awarding raises to rank-and-file staff. ... Read full article

Bank of America’s P2P transaction volume via Zelle is surging, with millennials driving the bulk of its usage. ... Read full article

Bank of America has joined the likes of Walmart and Mastercard in seeking patents for blockchain technology that could be used for a digital currency or mobile wallet. ... Read full article

Bank of America’s customers spent $1.9 trillion this year through Aug. 12, an increase of 5.9% from a year earlier — a sign that the economy, driven by the consumer, remains strong, Brian Moynihan said. ... Read full article

The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees. ... Read full article