Bank of America

429 results about this entity

Period: 13 Jul 2004 - 30 Apr 2025

/payments

Smarter, faster, still relevant: Experts weigh future of US payment systems

Nacha’s Smarter Faster Payments conference in New Orleans highlighted the growing momentum behind real-time payments, emphasising their transformative potential across commercial and technological verticals. Yet, amid this digital shift, sessions also acknowledged the enduring relevance of traditional rails like wire transfers, ACH, and even cheques - each facing its own modernisation challenges.

/people

Bank of America strengthens global payments solutions team

Bank of America has announced two strategic leadership appointments within its Global Payments Solutions business, reinforcing its commitment to expanding capabilities across key international markets.

/markets

Big banks join $63m funding round for Luma

Luma Financial Technologies, a platform for structured products and annuities, has raised $63 million in Series C financing led by Sixth Street Growth and joined by a host of existing Wall Street backers.

/ai

BofA staffers embrace AI virtual assistant

Bank of America says that over 90% of its 213,000 employees now use its AI-driven internal virtual assistant, cutting calls into the IT services desk by half.

/crypto

Bakkt sees shares plunge as crypto firm loses major customers

Shares in digital asset player Bakkt tumbled by more than a third on news that the firm has lost two major customers, Bank pf America and Webull.

/crypto

BofA CEO says bank prepared to launch own stablecoin

Bank of America will look to launch its own dollar-backed stablecoin if US lawmakers make it legal to do so, says CEO Brian Moynihan.

/payments

BNY sends largest instant payment in US history

BNY has used The Clearing House's RTP Network to send the largest instant payment in US history, transferring $10 million to Bank of America on behalf of a client.

/regulation

OCC hits Bank of America with cease and desist order over sanctions screening violations

The Office of the Comptroller of the Currency (OCC) today issued a cease-and-desist order (order) against Bank of America, N.A. (bank) for deficiencies related to its Bank Secrecy Act (BSA) and sanctions compliance programs.

/sustainable

US banks leave Net-Zero Banking Alliance

As Donald Trump returns to the White House, JPMorgan Chase has followed a host of other US banks in quitting the Net-Zero Banking Alliance.

/payments

CFPB sues JPMorgan, BofA and Wells Fargo over Zelle fraud

The Consumer Financial Protection Bureau has filed a lawsuit against JPMorgan Chase, Bank of America and Wells Fargo, accusing them of allowing fraud to "fester" on P2P payments platform Zelle.

/payments

BofA's CashPro app on track for $1 trillion in annual payment approvals

By the end of 2024, Bank of America corporate clients will have made over $1 Trillion in payment approvals on the bank’s CashPro App, the mobile application that companies use to manage their treasury operations.

/payments

BofA rolls out Paze online checkout option to cardholders

In time for the holiday season, all eligible Bank of America credit and debit cards are now enabled with PazeSM, a fast and streamlined online checkout solution.