Bank of America hikes its minimum wage to $22 per hour
Nation's second-largest bank has said it plans to boost the company's baseline hourly pay to $25 by 2025.
Bank of America
Bank of America CEO on inflation, Fed meeting
Bank of America CEO and Chairman Brian Moynihan joins "CBS Mornings" to discuss possible Federal Reserve steps to reduce inflation and whether he thinks America is headed for a recession.
Bank of America CEO calls Roe v. Wade "settled law"
Brian Moynihan said Bank of America will assemble a broad team of employees to discuss what the company can do if Roe v. Wade is struck down.
"Black Panther" director falsely detained
"Black Panther" director Ryan Coogler was trying to withdraw money by passing a note to a teller, who then mistook him for a bank robber. Atlanta police say the incident was a mistake, and Bank of America has since apologized. Mola Lenghi reports.
"Black Panther" director mistaken for bank robber, video shows
Ryan Coogler was approached by police minutes after passing a note to a teller asking her to be discreet over a money withdrawal.
Bank of America to slash overdraft fees to $10 from $35
Nation's second-largest bank also will stop charging customers when they bounce a check.
Two U.S. banks cut overdraft fees
Bank of America is reducing its $35 overdraft fee to $10 and Capital One is offering free overdraft protection as U.S. banks come under pressure from federal regulators to cut those fees.
Banks could suffer massive wave of job losses, analysts say
About 100,000 jobs could vanish over the next five years due to automation, according to Wells Fargo.
U.S. economy reaches pre-pandemic levels
The Labor Department says 400,000 Americans filed first-time unemployment claims last week, down 24,000 from the previous week. And the Commerce Department reports the nation's gross domestic product has reached pre-pandemic levels. Michelle Meyer, head U.S. economist for Bank of America Securities, joins CBSN to discuss the U.S. economic recovery.
Bank of America CEO says U.S. economy is "really set to go"
Bank of America CEO Brian Moynihan says increased consumer spending is helping the U.S. economy rebound from the pandemic.
Bank of America's minimum wage to hit $25 an hour by 2025
The bank joins Amazon, Chipotle and McDonald's on a short list of big companies that recently hiked their hourly wages.
Minority-owned banks draw billions in funding and donations
The U.S., along with some of the nation's biggest banks, are pumping big bucks into Minority Depository Institutions.
Bank of America joins Chase in announcing card-free technology
Bank of America joins Chase in announcing card-free technology. New ATMs will allow you to get your money with your smartphone. The move is designed to save customers' time. CNET senior editor Dan Ackerman joins “CBS This Morning” to discuss the latest way technology is changing how we use money.
Jill Wagner reports on the day's top MoneyWatch headlines
Some Apple Pay users with Bank of America accounts were accidentally double-charged for some mobile purchases. Also, Google has created a new Gmail app called Inbox, which is coming soon. Jill Wagner reports on the day's top MoneyWatch headlines.
U.S. Attorney General Eric Holder called the Justice Department's settlement with Bank of America a "historic step forward" in protecting the American public from financial fraud
U.S. Attorney General Eric Holder called the Justice Department's settlement with Bank of America a "historic step forward" in protecting the American public from financial fraud. The deal is the largest government settlement stemming from the 2008 financial meltdown.
It is a result of the bank's role in the sale of mortgage-backed securities before the 2008 financial crisis
It is a result of the bank's role in the sale of mortgage-backed securities before the 2008 financial crisis. The bank will pay about $10 billion in cash and another $7 billion to homeowners. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to discuss the details of the settlement.
Officials say Bank of America expected to pay almost $17 billion: the largest settlement arising from the 2008 financial crisis
Officials say Bank of America expected to pay almost $17 billion: the largest settlement arising from the 2008 financial crisis. Also, UPS says a computer virus was found on systems at 51 of its stores. Wendy Gillette has some of today's top MoneyWatch headlines.
"CBS This Morning" takes a look at some of the headlines from around the globe
"CBS This Morning" takes a look at some of the headlines from around the globe.
Also; Spring has sprung and so has home construction
Spring has sprung and so has home construction, expect a kill switch to come with smart phones after July 2015, and Ford is rolling out a limited editing Mustang GT to honor the car's 50th anniversary. Jill Wagner has these stories and more MoneyWatch headlines.
Keep an eye on these 4 companies and their diversity efforts
Black business leaders shared their short list of companies expected to move the needle on racial equality in 2021.
Unemployment fraud crackdown is "disaster" for some with real claims
Jobless Californians with legitimate unemployment claims are struggling to get their money.
Bank of America pledges $25M to address racial inequities
Bank of America is pledging to address racial and economic inequities by committing $25 million to assist "up-skilling and reskilling" for Black and Hispanic-Latino students. Ebony Thomas, the bank's environmental, social and governance strategy executive, joined CBSN to discuss why investing in communities of color is valuable.
Bank of America ends pandemic pay, citing "business as usual"
Financial giant, with $12 billion in profits this year, had been offering some workers an extra $400 a month.
Bad debts top $100 billion at nation's biggest banks
JPMorgan Chase expects $32 billion worth of bad loans, nearly triple what it had set aside a year ago, before Covid hit the world.
Recession to be felt "deep into 2022," says Bank of America
Consumer banking giant revised down its outlook for U.S. economy as cities and states pause or reverse plans to reopen.
House GOP leaders aiming to hold Tuesday vote on Epstein files, sources say
All Democrats and four Republican House members last week successfully brought a petition to the floor to force a vote to release the full Justice Department files on Epstein, circumventing GOP leaders.
Former DOJ pardon attorney criticizes Trump pardon of crypto billionaire
President Trump pardoned the billionaire founder of the largest crypto exchange in the world, Binance. It's raised questions about conflicts of interest and the president's use of the pardon power.
CBS News poll finds GOP, Trump seen as getting more from shutdown deal
Many Americans are "relieved" shutdown is over but expect higher health insurance costs.
U.S. to designate Venezuela's Cartel de los Soles as terrorist organization
The most advanced U.S. aircraft carrier has arrived in the Caribbean Sea in a display of American military power.
Cassidy says he's "very concerned" about possible hepatitis B vaccine schedule change
Republican Sen. Bill Cassidy of Louisiana, a physician whose medical practice focused on hepatitis B, said he's "very concerned" about a potential change to the hepatitis B vaccine schedule for infants.
U.S. strikes another alleged drug boat, killing 3 in Eastern Pacific
The U.S. military conducted a strike on another boat accused of carrying narcotics on board on Saturday, killing three people, U.S. Southern Command announced.
Leader of gang targeted by U.S. captured years after faking his death
Wilmer Chavarriais is believed to be the leader of Los Lobos, a drug trafficking syndicate that was recently designated a terrorist organization by the U.S.
Jets cornerback Kris Boyd critically injured in NYC shooting, reports say
Boyd was reportedly found shot in the abdomen in Midtown Manhattan and was rushed to the hospital.
Shaheen: "We need to put the shutdown behind us, end the circular firing squad"
Sen. Jeanne Shaheen, a New Hampshire Democrat, helped facilitate the deal to end the shutdown last week.