Latest Bank of America Corporation News

Changes from Visa mean Americans will carry fewer physical credit, debit cards in their wallets

May. 15, 2024 17:05 PM EDT

NEW YORK (AP) — Your wallet may soon be getting thinner. Visa on Wednesday announced major changes to how credit and debit cards will operate in the U.S. in the coming months and years. The new features could mean Americans will be carrying fewer physical cards in...

Japan's currency falls to its weakest since 1990 against the dollar as the yen keeps yelping

Apr. 29, 2024 13:07 PM EDT

NEW YORK (AP) — Some of the world's wildest action in financial markets is roiling around the Japanese yen. The value of Japan's currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1. A few years ago, it took closer to 100 yen to make a U.S. dollar....

Bank of America's Q1 profits fall 18% on higher expenses, charge-offs

Apr. 16, 2024 10:49 AM EDT

NEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts' estimates. The Charlotte, North Carolina-based bank posted a profit of $6.67 billion, or 76...

Bank of America: Q1 Earnings Snapshot

Apr. 16, 2024 06:53 AM EDT

CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Bank of America Corp. (BAC) on Tuesday reported first-quarter net income of $6.67 billion. The bank, based in Charlotte, North Carolina, said it had earnings of 76 cents per share. Earnings, adjusted for non-recurring costs, came to...

Stock market today: Asian markets are mixed after a slow day on Wall St ahead of US inflation update

Apr. 10, 2024 00:31 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Wednesday after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports. Hong Kong's Hang Seng gained 1.9% to 17,144.54, while the Shanghai Composite index slipped 0.3% to 3,088.25. ...

Federal Reserve still foresees 3 interest rate cuts this year despite bump in inflation

Mar. 20, 2024 17:51 PM EDT

WASHINGTON (AP) — Federal Reserve officials signaled Wednesday that they still expect to cut their key interest rate three times in 2024, fueling a rally on Wall Street, despite signs that inflation remained elevated at the start of the year. For now, the officials kept their...