CHARLOTTE, NC - For the third year in a row, J.D. Power certified Bank of America for outstanding client satisfaction with customer financial health support among banks and credit card issuers. Bank of America is the first financial institution to receive this certification.

The J. D. Power Financial Health Support Certification – Banking & Payments draws on data and insights collected as part of the J.D. Power Financial Health Study, which segments and profiles banking customers based on financial health and assesses how well their primary institution is addressing their needs. It was developed in collaboration with non-profit Financial Health Network, a leading authority on financial health.

“We give our clients the resources and support they need to make the best financial decisions, with easy access to education, advice and solutions to help them establish and maintain financial health,” said Holly O’Neill, President of Retail Banking at Bank of America.

J.D. Power’s analysis includes customer research from Bank of America’s consumer bank and card clients as well as a rigorous operational evaluation of the company’s infrastructure, performance, solutions and strategic direction around financial health.

Each year, as part of the re-certification process, the bank demonstrates how it has advanced its strategy to better support clients. This year the bank:

• Launched a Financial Health Resource Center that provides customized guidance to help individuals reach their financial goals.
• Increased engagement on its free financial education site, Better Money Habits,® resulting in a 4% increase overall and a 12% increase to its Spanish site, Majors Hábitos Financieros™.
• Increased proactive digital alerts to 10.6 billion per year, by 12% year-over-year, giving clients real-time insight into their financial lives.
• Expanded its partnerships with Operation Hope and Navicore to provide free, personalized financial counselling in 36 states and the District of Columbia.
• Updated fee waivers for Safe Balance® accounts, which help clients manage day-to-day finances with no overdraft fees.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

Reporters May Contact:

Susan Atran
Phone: 1.646.743.0791
susan.atran@bofa.com