News Topic: Bank of America

Bank of America plans to raise its minimum wage to $20 an hour over two years. The baseline will rise to $17 on May 1 and then climb to $20 in 2021, the Charlotte lender said Tuesday in a statement. ... Read full article

The congressional hearing will be ripe with opportunities for lawmakers to raise flags on issues of diversity, deregulation and social policy. ... Read full article

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday. ... Read full article

Bank of America pledged to commit $5 billion over the next five years to its program aimed at homebuyers with low to moderate incomes and multicultural households. ... Read full article

Citigroup earned the lone "A" on an investment firm's scorecard that measures companies' commitments to closing the pay gap between men and women. Goldman Sachs was one of four banks to receive an "F." ... Read full article

Under the hood of U.S. Bank's new mobile app; BofA, Wells Fargo sour on blockchain; are Fannie and Freddie too big?; and more from this week's most-read stories. ... Read full article

The internet giant's planned gaming service may create an omnichannel model for banks to emulate. ... Read full article

They haven't thrown in the towel yet, but comments by top executives at the two big banks suggested that their interest in finding financial services uses for distributed ledgers is wearing very thin. ... Read full article

Letters to eight bank CEOs from the Idaho senator were a rebuttal to calls by some Democrats for financial institutions to cut ties with firearms manufacturers, prison companies and others. ... Read full article

In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac. ... Read full article

The most popular features of the AI-driven virtual assistant include transaction search and spending alerts. ... Read full article

The bill by Sens. Kevin Cramer, R-N.D., and John Kennedy, R-La., would block banks and credit unions with over $10 billion of assets from refusing service to "customers that may not share the same political values." ... Read full article

U.S. banks accounted for nearly 40% of the financing worldwide to such firms, according to a report by Rainforest Action Network. ... Read full article

The 65 people laid off in late February is only the beginning, report says; Bank of America CEO also tackles mortgages, the economy and gender issues. ... Read full article

The legendary Atlanta banking lawyer played a special, often behind-the-scenes role that was part diplomat, mentor and seer during his 50-year career. He died last week at 76. ... Read full article

The bank will fund community development financial institutions that lend to women-owned businesses backed by the fashion designer's foundation. ... Read full article

Its move into new states will allow the nation’s largest bank to pursue the loan and deposit business of more state and local governments. ... Read full article

Several megabanks have sued the National Credit Union Administration claiming breach of settlement in a previous case related to mortgage-backed securities, but trends may favor the agency. ... Read full article