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BANK OF AMERICA will give $1,000 in December to eligible employees who earn $100,000 or less annually, while higher-paid staff will receive a stock award next year, as part of a special bonus program that is has also offered in the previous two years. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

Bank of America to pay special bonuses for third year after...

NEW YORK – Bank of America Corp. plans to pay its employees special bonuses for a third straight year after reporting record earnings in...
BANK OF AMERICA CEO Brian Moynihan said that recession risks are low in the U.S. as consumer spending remains strong but noted that fear of a recession could impact the economy. / BLOOMBERG NEWS/SIMON DAWSON

BofA’s CEO says the biggest recession risk is the fear of...

NEW YORK – Bank of America Corp. CEO Brian Moynihan said this week’s bond-market turmoil has been driven by issues outside the United States,...

Most-read stories on PBN.com, July 2019

1. PBN names inaugural slate of 25 Over Fifty-Five winners POSTED ONLINE: JULY 12. Providence Business News announced 25 winners for its inaugural 25...

Banks tied to fossil fuel lending

This wasn’t the welcome to Rhode Island that JPMorgan & Chase envisioned. Protesters gathered recently at the bank's soon-to-open branch near Brown University in Providence....
BANK OF AMERICA will end a payments joint venture with First Data Corp. next June. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to end payments joint venture with First Data next June

NEW YORK – Bank of America Corp. said it will end a payments joint venture with First Data Corp. next June when a contract...
ALEX AND ANI HAS demanded $1.1 billion in damages from Bank of America Corp. in a lawsuit alleging lending discrimination. / BLOOMBERG NEWS FILE PHOTO/CINDY ORD/GETTY IMAGES

Alex and Ani sues Bank of America for lending discrimination

NEW YORK –A few short years ago, jewelry maker Alex and Ani LLC was the public example of a happy Bank of America Corp....
IMPROVED PERFORMANCE: Stephen J. White, president and CEO of Westerly Community Credit Union, said the credit union’s net worth has improved since 2011 and it has had “very low delinquency” on loans in recent years.
 / PBN PHOTO/MICHAEL SALERNO

Strong ratings for banks, credit unions

Looking down the federal government’s list of failed banks since 2000, it’s hard to believe there was ever a banking crisis in New England...
PHILADELPHIA HAS SUED seven banks accusing them of costing local governments billions of dollars by colluding to fix the prices on floating-rate bonds issued to finance public works. / BLOOMBERG NEWS FILE PHOTO/JOHN TAGGART

Philadelphia sues seven banks over ‘collusion’ in muni deals

NEW YORK - Philadelphia sued seven banks including JPMorgan Chase & Co. and Bank of America Corp., accusing them of costing local governments billions of...
BANK OF AMERICA Corp. CEO Brian Moynihan predicted another round of consolidation in the U.S. that could lead to the emergence of a new competitor, speaking on a panel at the World Economic Forum in Davos, Switzerland. / BLOOMBERG NEWS FILE PHOTO/JASON ALDEN

BofA’s Moynihan predicts another round of U.S. bank mergers

NEW YORK - Bank of America Corp. CEO Brian Moynihan predicted another round of consolidation in the United States that could lead to the emergence...

Citizens receives 2nd-most CFPB complaints per deposits in U.S. in 2018

PROVIDENCE – Citizens Financial Group Inc. ranked No. 2 on a list of banks with the most 2018 Consumer Financial Protection Bureau complaints related...
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