Bank of America has announced that its Consumer Investments business now holds over $500 billion in client assets, marking a significant increase since its inception ten years ago.
The Republic of Ecuador has finalized a $1 billion sovereign debt conversion with Bank of America, marking one of the largest transactions of its kind.
Bank of America Corporation has announced that its Board of Directors has approved regular cash dividends for the first quarter of 2025 on several series of preferred stock.
In preparation for the holiday shopping season, Bank of America has introduced PazeSM, a new online checkout solution for its credit and debit cardholders.
Bank of America is marking the 20th anniversary of its Neighborhood Builders program, a significant philanthropic initiative aimed at enhancing leadership in nonprofits across the United States.
Bank of America Corporation has announced its plan to redeem the entire $2 billion principal amount outstanding of its 1.530% Fixed/Floating Rate Senior Notes, which are due in December 2025.
Bank of America has reported a significant increase in its artificial intelligence (AI) and machine learning (ML) patent portfolio, with a 94% rise in granted patents and pending applications since 2022. The company now holds nearly 1,100 AI and ML patents and pending applications, more than half of which have been granted.
Bank of America has announced the return of its More Rewards Day, scheduled for Thursday, November 7, 2024. This annual event, now in its third year, provides Consumer and Small Business credit cardholders an opportunity to earn additional rewards on their purchases as the holiday season approaches. Last year, participants earned over $26 million in extra rewards during this event.
The demand for real-time data and transaction processing has led to a significant increase in the adoption of Application Programming Interfaces (APIs) by Bank of America's business clients. Over the past year, there has been a 51% rise in clients using APIs, spurred by innovations that have streamlined onboarding and expedited transaction speeds.
Bank of America has introduced Guaranteed FX Rates with tenors extending up to one year, the longest currently available in the industry. This new offering aims to help companies manage foreign exchange risk associated with cross-currency payments and receipts. By using this solution, businesses can mitigate exposure to currency fluctuations and simplify treasury management processes like forecasting and reconciliation.
Bank of America Corporation has announced that its Board of Directors has approved regular cash dividends for the fourth quarter of 2024 on various series of preferred stock. The dividends will be distributed to shareholders according to the following schedule:
Bank of America Corporation has announced that its Board of Directors declared a regular quarterly cash dividend on common stock. The dividend is set at $0.26 per share and will be payable on December 27, 2024, to shareholders recorded by December 6, 2024.