Consumer Banking

9/5/19 9:00 am EDT

Most Americans prefer a mortgage payment to paying rent monthly according to Bank of America’s Homebuyer Insights Report. In fact, 93 percent of people who have bought a home are happier because of it, and 83 percent say they wouldn’t go back to renting. Most credit their happiness to an emotional attachment to their home, as well as the improved lifestyle and variety of hobbies that come with owning.

“We know how much homeownership means, and we see examples every day of how owning a home gives our clients the power to build personal wealth and make memories,” said D. Steve more...

8/21/19 9:00 am EDT

Bank of America today announced record-breaking person-to-person (P2P) payments use, as the company’s active Zelle® users have already completed more transactions this year than in all of 2018. In less than nine months, Bank of America clients sent and received a total of 163 million transactions, compared to 157 million transactions throughout 2018.

As people increasingly turn to cashless solutions to move and manage their money, Bank of America now has nearly 8.4 million clients actively using Zelle more...

7/22/19 9:00 am EDT

Bank of America today announced that it has opened its first full-service financial center in Cincinnati and will open its first in Columbus in the coming weeks. The company’s arrival in Ohio brings retail banking, lending and small business services, plus investing with Merrill, to new and existing clients in the areas. These centers serve as a destination to provide clients easy access to expert advice for all their financial needs.

The bank plans to open nearly 30 centers in Cincinnati and Columbus over the next two years and will expand its presence into the more...

6/25/19 9:00 am EDT

Bank of America today announced the launch of a digital debit card and other enhancements to its award-winning mobile banking app designed to make it easier and more convenient for clients to manage their finances on the go. These latest enhancements further advance the company’s high-tech and high-touch approach to helping clients meet their financial goals.

This digital debit card has the same protections and more...

6/11/19 9:30 am EDT

Bank of America Advantage SafeBalance Banking®, one of the first banking accounts to eliminate overdraft fees, is on track to surpass 1 million accounts this month. Last month, MONEY named Bank of America the “Best Bank for College Students” and selected the Advantage SafeBalance Banking account as best for students.

“SafeBalance Banking has become one of our most popular checking accounts for students and helps clients at every life stage maintain control over their finances,” said April more...

6/5/19 10:00 am EDT

Bank of America today announced the expansion of its environmental operations efforts to include the installation of solar panels across multiple locations through its Onsite Solar Initiative. The addition of solar power at financial centers, ATMs, office locations and other operational buildings will reduce energy costs for the bank and greenhouse gas (GHG) emissions. The program is expected to generate more than 25 megawatts of renewable electricity that will directly power the bank’s operations with clean energy.

“Low-carbon energy programs like this demonstrate how Bank of more...

6/3/19 9:00 am EDT

Bank of America today announced the launch of Merrill Guided Investing with an advisor, a new offering that will deliver advice and guidance to clients through a Merrill Financial Solutions Advisor (FSA) and an enhanced digital platform.

“This offering completes a powerful continuum of wealth management capabilities virtually unmatched in the industry,” said Aron Levine, head of Consumer Banking and Investments for Bank of America. “This new high-tech and high-touch offering is designed to serve clients who want both more...

5/28/19 1:00 pm EDT

Bank of America today announced that its virtual assistant, Erica, is already helping more than 7 million clients stay on top of their finances through the company’s award-winning mobile app. Since its nationwide rollout in June 2018, Erica has:

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 homebuyers and communities across the country. The company will commit this additional $5 billion over the next five years to its Bank of America Community 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...