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Consumer Banking

4/13/15 9:00 am EDT

Merrill Edge announced today that it has been recognized in five separate industry reviews, including honors for excellence in customer service and educational resources, and as one of the top online brokers by Barron’s magazine.

“We help streamline the financial lives of our clients so they can make more informed investment decisions,” said Aron Levine, head of Preferred Banking and Merrill Edge. “These honors and our growth are a great indicator of how we are delivering on this commitment by more...

3/31/15 9:00 am EDT

Bank of America announced the launch of its new web-based tool to guide consumers to down payment and closing cost assistance programs available in their region. The Bank of America Down Payment Resource Center is powered by Down Payment Resource™, developed by Atlanta-based Workforce Resource. more...

2/3/15 9:00 am EST

Bank of America announced today that Merrill Edge Advisory and Investment contact centers have once again received the distinction of J.D. Power Certified Contact Centers, recognizing the streamlined investment service for providing “An Outstanding Customer Service Experience” in the live phone channel for the fourth year in a row.

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1/12/15 11:26 am EST

Bank of America today unveiled a new advertising campaign to support the recent launch of Preferred Rewards. A first-of-its-kind program in the banking industry, Preferred Rewards recognizes Bank of America clients by offering everyday rewards across their banking relationship – not just within a single product or service. The advertising platform, “Get More,” highlights the ways in which Preferred Rewards clients earn more, save more and more...

1/7/15 9:00 am EST

Roughly half of all Americans believe they are “leaving money on the table” with their personal finances, and the majority want rewards for the transactions they already make every day, in particular for “responsible” behaviors, according to the Bank of America Preferred Rewards Consumer Study.

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11/24/14 10:00 am EST

Bank of America extends ATM with Teller Assist® across the Houston metro area, growing to 25 banking centers and more than 75 devices by year-end. ATMs with Teller Assist combine the technology of an ATM with the ability to get personal assistance from an on-screen teller through video technology. Today, Major League Baseball All-Star and Houston Astros second baseman Jose Altuve will demonstrate the technology, speed and convenience of more...

11/19/14 9:00 am EST

Millennials are confident in their ability to manage their finances, but their actions tell a different story, according to the Bank of America/USA TODAY Better Money Habits Millennial Report, released today. more...

10/27/14 9:00 am EDT

Feelings of guilt over not investing enough this year outpace common year-end regrets such as poor eating and drinking choices, not sharing enough time with loved ones or spending too much money on oneself. These are among the insights revealed by Bank of America’s latest Merrill Edge® Report released today. more...

10/20/14 1:00 pm EDT

Bank of America today began offering its customers and merchants access to Apple Pay, a new mobile payments service that provides an easy and secure way to pay.

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10/6/14 9:30 am EDT

Preferred Rewards, a groundbreaking program that recognizes and rewards clients for choosing Bank of America for more of their banking and Merrill Edge® for their investment needs, is now available for clients nationwide. Availability of the program in New York, Pennsylvania, Connecticut, New Jersey, Delaware, Virginia, Washington, D.C. and Maryland marks the completion of the final wave of the four-wave rollout that began in June. more...

9/30/14 11:10 am EDT

Bank of America today announced that beginning this week it will include chip technology on all new and reissued consumer and small business debit cards. Bank of America already includes chips on the majority of its credit card programs and is the first major U.S. bank to add the chip technology to debit cards.

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9/22/14 9:00 am EDT

Preferred Rewards, a groundbreaking program that recognizes and rewards clients for choosing Bank of America for more of their banking and Merrill Edge for their investment needs, is now available for clients in Michigan, Illinois, Tennessee, North Carolina, Georgia and Florida. These states are within wave three of a four-wave national rollout of the program that began in June and will be completed by the end of September. more...

9/2/14 9:00 am EDT

Bank of America Merrill Lynch (BofA Merrill) Global Transaction Services (GTS) today announced the implementation of its CashPro® Any2Any for Global Payments Asia-Pacific (Hong Kong) Limited, Taiwan Branch (GPAP), a leading worldwide provider of payment processing services, including 11 markets across the Asia Pacific region. In mandating BofA Merrill GTS, GPAP now has the advantage of processing larger payment volumes for its Taiwan merchant base on a daily basis.

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7/30/14 3:13 pm EDT

Susan G. Komen® honored Bank of America as the 2014 “Rising Star” partner during the annual Susan G. Komen Leadership Conference this week in Fort Worth, Texas. The Rising Star award is presented to a partner who has strengthened its commitment to Komen’s mission by expanding its programs and exploring new ways to engage with Komen.

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7/30/14 11:00 am EDT

Preferred Rewards, a groundbreaking program that recognizes and rewards clients for choosing Bank of America for more of their banking and Merrill Edge for their investment needs, is now available for clients in California, Oregon, Arizona and Idaho. These states are within wave two of a four-wave national rollout of the program that began in June and will be completed in September.

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6/30/14 10:00 am EDT

Almost one in two (47 percent) U.S. consumers admit they wouldn’t last a day without their smartphone, and many consider their devices more important than daily staples such as coffee and television, according to a new report released today by Bank of America. Of those who use their phones for banking, almost one-third (31 percent) say they log on at least once a day, and four out of five (82 percent) access their accounts at least once a week more...

6/23/14 12:30 pm EDT

Bank of America today launched Preferred Rewards, a ground-breaking new program that recognizes and rewards clients for choosing Bank of America for more of their banking and Merrill Edge for their investment needs.

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5/27/14 9:00 am EDT

Running out of money in retirement trumps other stress-inducing situations and pressures such as public speaking, gaining weight and going to the dentist for mass affluent Americans, according to the results of Bank of America’s latest Merrill Edge® Report released today. Despite the prospect of not having enough money to live on later in life, many are unwilling to cut spending on indulgences now in order to invest for retirement. more...

5/14/14 10:00 am EDT

Vantage Mobility International (VMI) today announced an agreement with Bank of America (NYSE: BAC) that will make it easier for consumers nationwide to apply for financing of wheelchair accessible vehicles. Under the agreement, consumers can apply directly for financing from Bank of America via a link on VMI’s website, www.vantagemobility.com. The Bank of America financing program provides loans with terms of up to 72 months for acquisition of a new or select pre-owned VMI wheelchair more...

4/22/14 10:00 am EDT

Card-linked marketing programs - like BankAmeriDeals®, an online and mobile cash back deals program for Bank of America® customers - are highly effective in increasing revenue, customer insights and advanced targeting to marketing programs, but are underutilized by chief marketing officers (CMOs), according to a new survey released today by Bank of America and The CMO Club. more...

4/9/14 12:31 pm EDT

Bank of America today announced that it has reached an agreement with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) to resolve issues related to the marketing and sale of credit card debt cancellation products and billing of identity theft protection products, including those marketed and billed by its vendors.

Bank of America stopped marketing identity theft protection products in December 2011 and credit card debt cancellation products more...

3/25/14 9:05 am EDT

Merrill Edge announced today that it has been honored in five separate industry reviews, including recognition as a customer service leader, a provider of excellent content for investors and one of the top online brokers by Barron’s. The strength and popularity of the Merrill Edge platform among clients is reflected in its 10 percent year-over-year growth in total Merrill Edge accounts in 2013.

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3/25/14 9:00 am EDT

Bank of America and the National Education Association (NEA) today announced the long-term renewal of their agreement to offer NEA-branded credit card products to NEA members.

“We are excited to continue our long-term relationship with the NEA,” said Jill Calabrese Bain, Partner Banking and Investments executive at Bank of America. “We’ve partnered with the NEA for more than 30 years, and we look forward to continuing to deliver more...

2/26/14 9:00 am EST

In an ongoing effort to motivate Americans to face the realities of costs related to retirement, today Merrill Edge® introduced the new Face Retirement mobile app. This new app builds on the success of the web-based Face Retirement tool originally launched in 2012 and recently upgraded. Almost 1 million individuals have used the tool, with 60 percent of them choosing to learn more about retirement and beginning to plan for the more...