However, Moynihan pointed out that the bank has noticed consumers pulling slightly back on their spending throughout the 2024 summer months – but when they spend, it’s at restaurants or on travel.

Customers that use non-Bank of America ATMs are charged a $2.50 fee for U.S. ATMs, and a $5 fee abroad. The bank also limits consumers to sending $1,000 per transaction in external transfers ...

Key Takeaways Credit-card holders generally prefer cash back to points, but premium cardholders value the points more, ...

Bank of America’s chief executive, Brian Moynihan, said consumers are still spending despite polls that show people are worried about the economy. “The economy is still growing and our ...

It’s a message now echoing in every corner of Wall Street: Consumers have finally run out of steam. It’s also an eventuality Bank of America has predicted since March, when analysts warned ...

Bank of America has consolidated its consumer units and, following the departure of a top executive, given one of its most senior female leaders a promotion. Holly O'Neill, BofA's president of retail ...

As a result, the Consumer Financial Protection Bureau ordered Bank of America (BAC) to pay more than $100 million to customers and $90 million in penalties. The Office of the Comptroller of the ...