The bank will start charging customers $10 in overdraft fees in May, compared to the $35 it charges now.
But Brian Moynihan remains concerned about the potential impact of inflation and supply-chain issues on the economy heading into the winter season.
Leaders of some of the country's largest banks are preparing for the worst-case scenario in the impasse between Democrats and Republicans over the debt limit.
"The key is for big companies like ours to set a standard," said CEO Brian Moynihan, "We think it's part of sharing our success with our communities."
Two 20-year-old women accuse Juan Esteban Ramirez, 27, of pretending to check their account information but instead stealing their intimate photos.
Despite Christmas Eve being declared a federal holiday this year, many major banks will likely be open.
In a misstep from the state's Employment Development Department, the Bank of America reports $2 billion in unemployment funds have been stolen by fraudsters. Last month, for instance, the EDD said the state approved $140 million to inmates who fraudulently applied for benefits.
The day after Thanksgiving is considered a state holiday by some state governments, so banks are not open on Black Friday in these states.
Major U.S. banks follow the Federal Reserve's holiday schedule, which observes days like Thanksgiving and Christmas.
Some businesses shut for federal holidays—is your bank one of them?
Customers will be able to access some banking services on Labor Day, like using ATMs, online banking and customer service support.
There are several ways to access your bank account on July 4, including through ATMs, online banking and mobile banking.
A list of banks closed on Memorial Day 2020 and alternative services that will still be available today.
Treasury Secretary Steve Mnuchin offered a more optimistic assessment, saying that the economy would "really bounce back in July and August."
Friday was the first day the small business loans as promised in the coronavirus stimulus package were due to be distributed, but it didn't go well.
May 27 is a federal holiday in the U.S.
Banking strategists said U.S. stocks were heading into deep bear market territory as the S&P 500 and Dow Jones both continued a more than 20 percent descent from recent record highs.
The statement comes on the heels of criticism from both right-wing media and Trump family members.
The two companies withdrew their sponsorship of New York Public Theater's play following controversy over the play's modern adaptation.
The database provides names, banks, trusts and other entities participating in offshore tax shelters.
As part of the Dodd-Frank legislation passed in the wake of the 2007-2009 financial crisis, banks must have "living wills."
Bush is the most popular candidate on Wall Street and Clinton is the second.
A court on Monday adjourned the trial of a British banker charged with killing two women until later this month to allow for the suspect to undergo a psychiatric assessment
Turns out those multibillion-dollar settlements imposed on banks are deductible