Bank of America

Technology & Digital Life
10:04 am
Wed October 9, 2013

Banks Get Closer To An Actual, 'Automated Teller'

Bank of America's new ATM allows a virtual teller to speak with the user.
Credit Ben Bradford / WFAE

ATMs first appeared on street corners more than four decades ago and their basic function has remained relatively the same since.

“It’s like a bank that never closes,” a commercial for United California Bank announced in the 1980s, when ATMs were growing more common. “It makes your life a little easier, because anytime, any day of the year, it takes deposits and gives you cash.”

But to save on cost and attract a younger, plugged-in generation of customers, banks are finding new uses for the ATM that will change how we get our money.

WFAE's Ben Bradford reports on new ATMs and branches, and speaks with a "virtual teller."

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Local News
5:00 pm
Wed August 21, 2013

BofA Trims Drive-Up Service In Some Branches

Bank of America is eliminating drive-up teller service at six branches in the Charlotte region.
Credit Sue Waters / Flickr

Bank of America is eliminating drive-through teller service at some of its branches across the country – including six locations in the Charlotte region.

  A bank spokeswoman says the decision was made in locations where use was low. Drive up ATMS will still be available at those branches.  Retail banking analyst Will Weidman, vice president of Applied Predictive Technologies, says banks are trying find a balance between traditional services like drive-through windows and new technologies that let people bank from home and on mobile devices.

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Local News
12:16 pm
Wed August 7, 2013

U.S. Justice Department Sues Bank Of America Over Mortgage-Backed Securities

Bank of America sign.
Credit MoneyBlogNewz / Flickr

The U.S. Justice Department is suing Bank of America for allegedly misleading investors who bought some $850 million of mortgage-backed securities, bonds that are backed by a huge pool of mortgage loans. The government is accusing the country’s second-largest lender of hiding information about how risky some of the loans were.


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Local News
4:29 pm
Wed May 8, 2013

BofA Shareholders Get Folksy Welcome

Bank of America corporate buildings were barricaded on Wednesday morning in anticipation of protests at the annual shareholder's meeting in Charlotte.
Julie Rose WFAE

Bank of America shareholders gathered for their annual meeting in Uptown Charlotte Wednesday morning.

Four years after the financial crisis, these meetings have settled into a familiar routine:  a few dozen protesters wave signs outside while activist investors control the microphone inside.  Today was no different, but the meeting did have a different atmosphere.

For the second largest bank in the country, this annual meeting sure got off on a folksy foot.

"Good morning!" called Bank of America board Chairman Chad Holliday to the crowd of about 250. 

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Business
3:15 pm
Wed May 8, 2013

Bank Of America Shareholders Approve Executive Pay

Bank of America held its annual shareholders' meeting in Charlotte today. CEO Brian Moynihan began the meeting highlighting the company's financial gains. He says the company has seen large growth in deposits and credit card accounts and has helped close to 2 million homeowners avoid foreclosure. He says internally, the company has been able to reduce costs to more quickly increase payouts for its shareholders.

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Business
2:29 pm
Mon January 7, 2013

Latest Settlement Shows 'Light At The End Of The Tunnel' For BofA

Credit Jennifer Lang

We've already established that Bank of America's 2008 acquisition of Countrywide was a costly move – and a mistake in the view of many. The Charlotte bank has spent tens of billions of dollars on settlements and losses tied to that mountain of messed-up mortgages. On Monday, Bank of America made some important progress.

Another day, another settlement - or really two,  in the case of Bank of America. And these are far from the last we'll expect to see. 

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Business
10:10 pm
Tue January 1, 2013

BofA Stock "Most Improved" For 2012

Bank of America saw the largest stock gains in 2012 among NC's 50 largest publicly-traded companies.

One of North Carolina's most publicly-criticized companies also saw the biggest improvement in stock price during 2012.   

Bank of America's stock ended the year at $11.61 a share, which is more than double its starting price in 2012.  

Keep in mind, of course, that five years ago BofA was trading around $40 a share, so there's a good distance to go if a full rebound is in the cards.

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Charlotte Observer
3:03 pm
Wed October 24, 2012

U.S. Sues BofA For $1 Billion For Mortgage Fraud

Bank of America branch in Uptown Charlotte.
Jennifer Lang WFAE

Federal prosecutors in Manhattan sued Bank of America for $1 billion on Wednesday, alleging the bank defrauded government-sponsored mortgage giants Fannie Mae and Freddie Mac.

The lawsuit is the latest legal mire for the Charlotte-based bank, which has already agreed to pay billions of dollars to resolve other lawsuits.

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DNC 2012
6:02 am
Thu October 18, 2012

DNC Fundraisers Came Up $12.5M Short

Bobcats EVP Bill Duffy hands TWC Arena keys to DNCC CEO Steve Kerrigan. Photo: Julie Rose

The Charlotte host committee of the DNC has revealed it came up $12.5 million short of its fundraising goal for the convention and was forced to tap a line of credit guaranteed by Duke Energy. 

WFAE's Julie Rose has been pouring through documents filed with the Federal Election Commission late last night and joins All Things Considered Host Mark Rumsey to share some analysis.

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Business
6:26 am
Mon October 15, 2012

BofA Gets Praise From Housing Counselors

Bank of America's Customer Assistance Center in Northeast Charlotte opened in October 2011.
Julie Rose

When Bank of America announces quarterly earnings this week, foreclosures and defaulting loans will once again be a key part of the equation.

The Charlotte bank has spent four years wading through a sea of troubled mortgages it took on with the 2008 acquisition of Countrywide. Along the way it's become a favorite target of vitriol - often landing on lists of "most hated institutions" in America. 

But recently, WFAE's Julie Rose discovered some of the people on the front lines of the foreclosure crisis are softening toward Bank of America. 

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