News Topic: Bank of America

Banks need to respond swiftly to allegations of sexual harassment and other misdeeds, even those involving their top performers. ... Read full article

In letters to the six largest U.S. banks, the Ohio Democrat accused the banking sector of moving call center jobs overseas while reaping benefits from the recent tax cut law. ... Read full article

Today's senior leaders seem more willing than their predecessors to take bold stands on controversial topics, in part because employees and investors expect them to. ... Read full article

One woman's legal battle of more than a decade could develop into one of the biggest gender discrimination lawsuits to hit Wall Street. Bank of America faces a complaint after its sexual harassment ouster, and loses another top female executive. Plus, ... Read full article

Both Republicans and Democrats are making threats against banks that don't take their side on gun control. ... Read full article

The lawmakers are calling on banks to follow the lead of Citigroup and Bank of America in limiting their business with firearms dealers in light of recent mass shootings. ... Read full article

On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions. ... Read full article

Bank of America's new policy denying loans and other services to certain gun makers came after dozens of employees lost family members or suffered other trauma related to mass shootings in the past few years, CEO Brian Moynihan said. ... Read full article

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's ... Read full article

Bank of America Corp. hit a milestone in its years-long effort to get costs under control. ... Read full article

Amber Baldet is exiting JPMorgan Chase to start her own venture, and another female executive is taking charge of the blockchain effort. BofA makes major progress on digital mortgages and gets gun-shy after Parkland. Plus, GM’s one-sentence dress code. ... Read full article

Bank of America is investing heavily in videoconferencing at unstaffed branches, Citigroup is experimenting with gamification and Union Bank’s PurePoint Financial is going entirely paperless. ... Read full article

The bank says its partnership with Lender Price will help streamline and simplify its home loan process. ... Read full article

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue. ... Read full article

Bank of America plans to stop lending to companies that make assault-style guns used for non-military purposes. ... Read full article

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them. ... Read full article

Cathy Bessant, chief operations and technology officer at Bank of America, shares her thoughts on how companies can prevent human foibles and biases from creeping into their software and the need to build an ethical framework for AI software development ... Read full article

New York state's pension funds are urging credit card companies to consider following Citigroup's lead in cracking down on gun sellers. ... Read full article