Bank of America

Bank of America expects to cut several thousand jobs nationwide in its consumer banking division over the next few years as customers shift their banking away from branches to mobile phones and computers.

BofA Plods Toward More Basics, Less Risk

Oct 16, 2013

Bank of America continues its steady plod toward a more boring future focused on banking basics, rather than the risky behaviors that drove profits during the high-flying years.

BofA Trims Drive-Up Service In Some Branches

Aug 21, 2013
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.

BofA Shareholders Get Folksy Welcome

May 8, 2013
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. 

Humane Society rescues 19 dogs from puppy mill

Apr 28, 2013

The Humane Society of Charlotte says it rescued 19 breeding dogs early Saturday from a puppy mill in western North Carolina.  The society said its emergency response team found a breeding operation at the site, with 19 Maltese and Maltese mix dogs between 4 and 10 years old.

Officials said the dogs had mouth, eye and skin problems resulting from a lack of veterinary care. They will be treated then sent to foster homes. 

We look at the debate over the looming fiscal cliff. Charlotte has long been seen as a financial hub in America so we'll turn to some of our own local experts to find out exactly what the fiscal cliff is, what the debate is all about, the likely outcome and what impact any deal may have on us all. We examine the fiscal cliff in detail, when Charlotte Talks.

Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.

Bank Websites Under Cyber Attack

Sep 26, 2012

The websites of several major U.S. banks, including Wells Fargo and PNC, are under cyber attack today. Reports of trouble accessing online banking are pouring into the tracking website, says founder Jeff Herdell.

"They're referred to as DDoS attacks," explains Herdell. "Hackers will take over many computers and direct floods of traffic at these bank sites in hopes that the service will be disrupted and go down temporarily. So it's more of a nuisance than anything, but it's very significant right now."

Reports Of New BofA Layoffs Misleading

Sep 20, 2012

Headlines Thursday were full of news that Bank of America will cut 16,000 jobs by the end of the year. But the headlines can be misleading.

These layoff reports give the impression that every few months there's another major bloodletting at Bank of America. In fact, this latest 16,000 number - and others we've heard in recent months - are all part of the same job cuts announcement Bank of America made last September -  30,000 jobs it said it would cut.

At that time, Bank of America CEO Brian Moynihan described a plan to get the bloated bank back to its fighting weight.

Regions Bank Sneaks Payday Lending Into NC

Sep 13, 2012
Philip Taylor PT/Flickr

Shops that offer short-term, small-dollar loans with annual percentage rates of 300 and 400 percent do not cluster on urban street corners in North Carolina like they do in other states. That's because this is one of just four states where payday lending is prohibited. 

But now a small regional bank - Regions Bank - has found a loophole.  Two loopholes, really.

"Were they not a bank, it would not be legal to make that loan here in the state," says Chris Kukla, a senior vice president at the Center for Responsible Lending.