Consumer Banking

5/21/19 11:00 am EDT

Bank of America President of Consumer and Small Business Dean Athanasia will participate in the Deutsche Bank Global Financial Services Conference on Tuesday, May 28 at 1:10 p.m. Eastern Time. A live audio webcast will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market more...

5/16/19 9:10 am EDT

Bank of America was today recognized as a leader in The Forrester Banking Wave™: U.S. Mobile Apps Q2 2019 report.

 

  • Bank of America received the top ranking in three evaluation criteria, including self-service features, privacy and security cues, and content, and ranked among the highest in progress and workflow.
  • Bank of America achieved an overall score 10 points higher than the evaluation average, and was one of only two U.S. banks to meet or exceed the average in more...
5/13/19 10:00 am EDT

Bank of America announced that it has opened its first full-service financial center in Salt Lake City, bringing banking, investing, lending and small business services to new and existing clients in the area. The Draper financial center serves as a destination to provide clients easy access to expert advice for all their financial needs.

The new financial center, located at 1222 E. Draper Parkway, is state-of-the-art and showcases the newest technology including advanced ATMs; private offices for one-on-one client assistance; on-site specialists, including Merrill financial more...

4/23/19 9:00 am EDT

Bank of America today announced it has hired 4,700 individuals from low- and moderate-income communities over the last 18 months, bolstered by the 2018 launch of its Pathways career program. Nearly more...

4/11/19 10:00 am EDT

The youngest generation of homebuyers is not dragging their feet. According to Bank of America’s Homebuyer Insights Report, 59 percent of prospective homebuyers between the ages of 18 and 23 want to buy within the next five years, meaning they would own a home before the age of 30. While certainly aspirational, this isn’t just a pipe dream for Gen Z; more than half have already started saving, showing their commitment to this goal, and 71 percent say they know what they want in a home.

“It’s exciting to see Gen Z wanting to more...

4/5/19 9:00 am EDT

Bank of America continues to make significant investments to modernize more than half of its financial centers nationwide, along with its entire ATM network. The company also continues to expand its retail banking and small business services in new and existing markets.

  • Financial center modernization – Bank of America has modernized more than 1,000 financial centers over the last three years, and today announced that an additional 1,500 will be modernized over the next three years more...
4/2/19 10:30 am EDT

Bank of America today announced a new $5 billion affordable homeownership initiative for low- to moderate-income and multicultural homebuyers and communities across the country. The company will commit this additional $5 billion over the next five years to its Bank of America Neighborhood Solutions program, which will help more than 20,000 individuals and families thrive through the power of homeownership.

Bank of America’s Neighborhood Solutions program focuses on helping put people on the path to affordable and more...

3/21/19 9:00 am EDT

Bank of America today announced that Erica, its artificial intelligence (AI)-driven virtual financial assistant, has surpassed 6 million users and completed more than 35 million client requests. This milestone coincides with the introduction of a series of new features in the award-winning mobile app, including several new Erica insights that offer clients personalized, more...

2/28/19 12:00 pm EST

Merrill Edge was recognized in Barron’s 2019 Best Online Brokers review, receiving four out of five stars for the sixth consecutive year and ranking fifth overall, up a spot from sixth in 2018. 

This ranking follows the 2019 annual review by StockBrokers.com, which ranked Merrill Edge No. 1 for “Overall more...

2/4/19 9:00 am EST

Bank of America today announced it received the highest recognition in customer satisfaction for retail banking advice in the J.D. Power 2019 U.S. Retail Banking Advice StudySM. This top spot and 5 out of 5 Power Circle Rating, which is “among the best,” are firsts for Bank of America in the annual study of retail banking client satisfaction with bank-provided advice offerings.

“We work tirelessly to deliver exceptional client care across every touchpoint with our 66 million clients,” said Dean Athanasia, president of Consumer and Small Business at Bank of America. “We more...

1/30/19 9:00 am EST

Bank of America today announced that it will expand eligibility for commission-free online stock and ETF trades through Merrill Edge. This benefit has been available for clients enrolled in the higher tiers of the Preferred Rewards program for the past four years and will extend to all enrolled clients, regardless of tier, starting in the second quarter of this year.

Launched in 2014, Preferred Rewards is a first-of-its-kind, comprehensive loyalty program based on a client’s full relationship across Bank of America banking and/or Merrill Edge and Merrill Lynch more...

1/25/19 6:10 pm EST

Bank of America’s Client Assistance Program will continue to offer personalized assistance to clients as the shutdown ends and the federal government reopens. On January 11, customers were sent an email from Aron Levine, head of Consumer Banking, encouraging those impacted by the shutdown to call a priority assistance phone line at 844.219.0690 to contact a specialist who can walk them through tailored options including:

  • Special interest rate – A limited-time zero percent interest rate on more...
1/11/19 4:27 pm EST

Bank of America today reached out to clients who may be impacted by the partial federal government shutdown to make them aware of the bank’s Client Assistance Program.

We know the partial federal government shutdown is affecting many of our clients, and we want them to know that we are here to help,” said Aron Levine, head of Consumer Banking. “Our Client Assistance Program is available to individuals affected by the shutdown for personalized financial assistance, tailored to their specific situation and more...

1/8/19 9:00 am EST

Bank of America today became the first financial services company to be both mobile app- and online banking-certified by J.D. Power for providing “An Outstanding Customer Experience1.” This is the second consecutive year J.D. Power has certified Bank of America’s mobile app and the first year for the new website certification.

J.D. Power’s certification programs reflect brands’ commitment and dedication to providing customers a digital experience that meets their evolving expectations.

“With 36 million digital clients, we strive to provide the best user more...

12/12/18 9:30 am EST

Bank of America today announced several updates to its award-winning mobile banking app to provide a seamless experience wherever and whenever clients choose to bank.

One of the most significant enhancements is a redesigned, industry-leading iPad app experience. Designed to closely mirror the Bank of America iPhone mobile banking app, the experience offers new features and makes it easier for clients to manage finances on their terms.

”With 26 million mobile clients and growing, a smooth experience across all devices and channels is always our top priority,” said David more...

12/12/18 9:00 am EST

Bank of America announced today that all content from Better Money Habits®, its free financial education platform, is available in Spanish. Now, users can access the full suite of easy-to-understand tools and resources in Spanish and have the power to make sense of their money and take steps to improve their personal finances.

In addition, new research from Bank of more...

12/10/18 10:00 am EST

Bank of America today announced a new Bank of America® Cash Rewards credit card that gives clients the flexibility to choose how they earn rewards based on their changing priorities and interests. This is the first cash back card that offers this level of flexibility on earning and redeeming rewards.

Beginning the week of January 14, clients will be able to choose how they earn their 3 percent cash back from one of six popular categories: gas, online shopping, dining, travel, drug stores, or home improvement and furnishings. Clients will continue to earn 2 percent cash back at more...

12/5/18 11:00 am EST

U.S. homeowners who leveraged secured financing to pay for renovations in 2017 were able to take on larger home improvement projects, with nearly three times the median spend of those who paid for renovations with cash-only ($32,000 versus $13,000), according to a study released today by Houzz Inc., in collaboration with Bank of America.

The study explored the role of secured financing in U.S. home improvement and found that one in seven homeowners who used secured financing, such as a home equity line of more...

11/30/18 9:00 am EST

Matters of the heart are quickly becoming worries of the wallet, as 56 percent of Americans say they want a partner who provides financial security more than “head over heels” love (44 percent). This sentiment is held by both men and women (54 percent, compared to 57 percent), whereas Generation Z (born between 1996 and 2010) is the only generation to choose love (54 percent) over money (47 percent).

These findings come from the latest more...

11/30/18 9:00 am EST

Atlanta residents are prioritizing money over love, as 55 percent of Atlantans say they want a partner who provides financial security more than “head over heels” love (45 percent). While both genders agree, women are slightly more likely than men to prioritize financial security over love (57 percent, compared to 51 percent).

This reliance on others mirrors national trends from the latest Merrill Edge Report, which explores Americans’ increasingly complex relationship with their money, significant others and financial futures. more...