Bank of America

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

]]

Bank of America Chief Executive Brian Moynihan said the company is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup.

Bank of America cut some of its staff in the global banking and markets division this week. The latest cuts mark an end to BofA's pledge not to eliminate any jobs in 2020 as the global pandemic flared.

Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy.

Still under fire for financing oil-and-gas exploration, banks are now being criticized for bankrolling producers of the single-use bottles and wrappers that are piling up in landfills and waterways. How will they respond to the mounting pressure from environmentalists?