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Bank of America

Why banks are trying to make a business out of junk fees

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Jul 12, 2023
Financial regulatory director says laws are not suggestions for banks.
Bank of America will give $100 million back to customers that it wrongfully took in fees. The bank will also pay another $150 million in penalties.
Nicholas Kamm/AFP via Getty Images
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Fourth-quarter reports show some big banks are saving for a recession

by Mitchell Hartman
Jan 13, 2023
In the face of high inflation, rising interest rates and a slowing global economy, banks are setting aside reserves — just in case.
Bank of America told investors Friday that it generated a 2% profit bump last quarter. Many big banks have been squirreling away cash to prepare for an economic downturn.
Brandon Bell/Getty Images
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Why big banks are "canaries in the economic coal mine"

by Mitchell Hartman
Jan 9, 2023
On Friday, Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will post earning reports. Parts of their business struggled in the fourth quarter.
Michael M. Santiago/Getty Images
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As big banks lower overdraft fees, smaller banks mull their options

by Justin Ho
Jan 12, 2022
Community banks don’t have the same scale as national banks — but they still have to compete and find ways to make up the lost revenue.
Consumer advocates have been pressuring banks to eliminate overdraft fees during the pandemic.
Nicholas Kamm/AFP via Getty Images
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COVID-19

More optimistic about the recovery, big banks trim the reserves they set aside to cover bad loans

by Justin Ho
Oct 14, 2020
But if we're in for a double-dip recession, they'll need to set aside billions more than they currently have on hand.
Big banks, like JPMorgan Chase, are feeling more confident about the economic recovery after solid third quarter earnings.
Spencer Platt/Getty Images
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Big companies are raising wages as competition heats up

by Mitchell Hartman
Apr 9, 2019
Finding and retaining workers can be a challenge.
The competition for workers is getting fierce. 
YinYang/Getty Images
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Bank earnings are way, waaay up. Here’s why.

by Erika Beras
Oct 16, 2018
Quarterly earnings reports out this week from the major banks including JPMorgan Chase, Goldman Sachs and Bank of America show very, very strong gains. Many companies are benefiting from the changed tax code, but banks are a special case. Click the audio player above to hear the full story. 
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Bank earnings are way, waaay up. Here’s why.

by Erika Beras
Oct 16, 2018
Quarterly earnings reports out this week from the major banks including JPMorgan Chase, Goldman Sachs and Bank of America show very, very strong gains. Many companies are benefiting from the changed tax code, but banks are a special case. Click the audio player above to hear the full story. 
ListenLISTEN
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Divided Decade

When did you realize we were in a financial crisis?

by Danielle Chiriguayo , Amy Scott , Nancy Marshall-Genzer , Betsy Streisand and Mitchell Hartman
Sep 20, 2018
Marketplace veterans take a look back at some personal pivotal moments.
News tickers at the Nasdaq MarketSite show negative numbers October 9, 2008 in New York City.
Mario Tama/Getty Images
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Divided Decade

Following the money: What happened to a nearly $17 billion bank settlement?

by Tracey Samuelson
Sep 19, 2018
We break down how a fine is distributed.
A flag flies outside the Bank of America Corporate Center June 30, 2005 in downtown Charlotte, North Carolina.
Davis Turner/Getty Images
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